Hello Guys, before the market close for the weekend, here is my insights for EURUSD in H4 Timeframe. Prices move very fast due to Powell's speech yesterday and for me, we still can execute the Long Trade for this pair. The price still moving in an uptrend and it shows its going upward a few more pips from current price. As for me, In H4 we still need to wait for a clear break as shown in my drawing before we enter a long position.
Meanwhile, if the price move downward and break the support zone as shown, Head and Shoulder Pattern could be valid to justify the short entry position. So, it can be both but as for now I can see the potential to go for Long position.
Trade Idea : Long
Price : BUY NOW
Take Profit : 1.1950 - 1.2000
Stop Loss : 30-50 PIPS
Disclaimer!
This analysis does not give traders any confirmation on trading execution! It is for educational purposes only. You can refer this analysis and outlook for trading idea but trade at your own risk and trust your analysis first! Thank you and good luck for everyone!
Meanwhile, if the price move downward and break the support zone as shown, Head and Shoulder Pattern could be valid to justify the short entry position. So, it can be both but as for now I can see the potential to go for Long position.
Trade Idea : Long
Price : BUY NOW
Take Profit : 1.1950 - 1.2000
Stop Loss : 30-50 PIPS
Disclaimer!
This analysis does not give traders any confirmation on trading execution! It is for educational purposes only. You can refer this analysis and outlook for trading idea but trade at your own risk and trust your analysis first! Thank you and good luck for everyone!
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