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EURUSD Technical Overview and Levels To Focus On

EURUSD Technical Overview and Levels To Focus On

Trading Summary
  • Bearish Black Swan pattern ( 1.13800 )  has achieved its structural target at 1.12000 where Fibonacci 0.618 Fan meets SMA 100.
  • A fresh short trade at 1.12170 has achieved its first target 1.11680. ( M30 Chart Head & Shoulders Pattern)
Technical Overview and Levels
  • The medium-term trend is still bullish as the EURUSD pair is trading above SMA200 ( 1.10500 ) on the H4 timeframe and EMA50 ( 1.10780 ) on the D1 timeframe.
  • Harmonic Overview: H1 Chart Bullish ABCD and H4 Chart Bullish Three Drives can be used as a buying opportunity ( 1.11680 MM -1/8 )  however upside looks capped by SMA 100 and EMA50 AT 1.12300 – 1.12500.
  • A potential retracement towards 1.12300 can be used as a selling opportunity.
  • Closing below 1.11600 will send the price 1.11100 ( MM -2/8) and 1.10700 EMA50 D1.
  • We need to see a firm closing below SMA200 ( 1.10500) to talk about medium-term trend shift – Bullish to Bearish –
  • As mentioned on my DXY chart, a potential closing above 98.00 may help the trend change.

Any intraday opportunity will be posted on the channel.

Chart and trade template for Chart Pattern Trader MT4 version will be sent via the channel.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.

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