Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that EurUsd is approaching a quite obvious previous weekly support/resistance area at the $1.10 level which is now acting as strong resistance.
You can also see that weekly market structure is overall still bullish, moving averages are bullish too so I just do expect a short term retracement and rejecting away from the resistance to retest the next weekly support at the $1.08 level before I then do expect more continuation towards the upside from there.
On the daily timeframe it is quite obvious that EurUsd is still in a massively bullush market so I am now just waiting for a break below the previous daily support zone, followed by a retest and some bearish confiration before I then do expect a short term move towards the downside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that EurUsd is approaching a quite obvious previous weekly support/resistance area at the $1.10 level which is now acting as strong resistance.
You can also see that weekly market structure is overall still bullish, moving averages are bullish too so I just do expect a short term retracement and rejecting away from the resistance to retest the next weekly support at the $1.08 level before I then do expect more continuation towards the upside from there.
On the daily timeframe it is quite obvious that EurUsd is still in a massively bullush market so I am now just waiting for a break below the previous daily support zone, followed by a retest and some bearish confiration before I then do expect a short term move towards the downside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
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www.basictrading.net/elite-program
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Keep your long term vision.