www.varchev.com

Will the bullish movement continue in EUR/USD

At EUR / USD we see an increasing bullish trend, which predisposes us to a good opportunity to enter a long position.

On the 4h chart we have already broken down the trend line and the horizontal key level on 1.095, coinciding with Fib 0.382.
The 50/200 MAs are also close to the price, which means that they are likely to play a support role, and DeMarker is in the over-bought downward zone indicating that the price will retrace and retest already broken resistances.

Watch the price action carefully after the correction. We are awaiting confirmation of the support area with a pinbar or engulfing bullish bar. This could be a good opportunity to enter LONG.

Stop moose can be placed around 1,092 below the already confirmed support area.

EUR/USD 4h chart

 Trader Georgi Bozhidarov


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance