EUR/USD PRICE ACTION ANALYSIS 5/4/2021
HELLO TRADERS,
- AS WAS MENTIONED IN MY FUNDAMENTAL ANALYSIS YESTERDAY , A BREAK BELOW 1.1700 IS EXPECTED TO HAPPEN WITH IN TOMORROW - AFTER TOMORROW , BEFORE A SWING UP HAPPENS.
- THE POINT IS THERE IS A LACK OF VOLUME TODAY DUE TO THE EASTERN HOLIDAY AND SO FEW INVESTORS ARE THERE TO REACT ON THE UPBEAT U.S ECONOMIC DATA.
THE DOWNTREND IS TO RESUME TO THE BREAK THE SUPPORTS (1.1680 - 1.1650) AND HERE COULD BE A GOOD BUY CHANCE AS THE WEEK SHOULD END IN THE OVERBOUGHT TERRITORY (1.1830 - 1.1880)
ACCORDING TO THE PRICE ACTION A SELL LIMIT AT THE PRICE (1.1760 - 1.1765 ) COULD BE A GOOD ENTRY
STOP LOSS (1.1785)
TAKE PROFIT (1.1730)
- AS WAS MENTIONED IN MY FUNDAMENTAL ANALYSIS YESTERDAY , A BREAK BELOW 1.1700 IS EXPECTED TO HAPPEN WITH IN TOMORROW - AFTER TOMORROW , BEFORE A SWING UP HAPPENS.
- THE POINT IS THERE IS A LACK OF VOLUME TODAY DUE TO THE EASTERN HOLIDAY AND SO FEW INVESTORS ARE THERE TO REACT ON THE UPBEAT U.S ECONOMIC DATA.
THE DOWNTREND IS TO RESUME TO THE BREAK THE SUPPORTS (1.1680 - 1.1650) AND HERE COULD BE A GOOD BUY CHANCE AS THE WEEK SHOULD END IN THE OVERBOUGHT TERRITORY (1.1830 - 1.1880)
ACCORDING TO THE PRICE ACTION A SELL LIMIT AT THE PRICE (1.1760 - 1.1765 ) COULD BE A GOOD ENTRY
STOP LOSS (1.1785)
TAKE PROFIT (1.1730)
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