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Today is Friday and it is a day when I do not want to trade to much. From this point price have a chance reaching next resistance level at 1.11091 if bulls can find strength. There is also a chance we see price pulling back to the support level 1.10373 if the bulls move out from the market.
EURUSD W3 MAY 2020 Long Setup ABCDE Triangle Correction A_Wave 5 waves up B_Wave ABC down C_Wave 5 waves up D_Wave ABC down E_Wave Expecting a 5 waves move up with ~120pips target
Buy-Setup will be only above 1.09398 LH . I will update where to buy if & only price cross above 1.09398 L H. in the timeline --> Sellers can continue as per projection on the chart. If you want any query, kindly write in the comment section . 4hrs chart: Junction/ Decisive point for direction. Wave Started downward.
EURUSD appears to be reversing its bearish trend, however it has not yet violated the bearish channel. For these situations I find it best to trade within the channel in case it does not experience a bullish breakout. The entry is set low (expecting pullback) and the SL is set tight. The SL is below the lower trend line. -StampsFX
My first consideration to long is that the RSI level is at the bottom and unclear DMI but with blue line on the low. Then I see it looks like a H&S pattern, but it's not i think. As the support level holds after we have a short term double top price action with higher high, my tendency towards bullish is bigger than bearish. For those who scalping you got 33.8...