Euro / Dolar A.S.Panjang
EURUSD Daily Chart Triangle Analysis
Looking at the daily chart EURUSD continues its correction of the Jan 2021 to October 2022 bear market, moving sideways in a triangle pattern. Mid July 2023 saw a test of resistance from the 61.8% Fibonacci retracement level on the bear market which held and we saw a strong move lower to the now confirmed trendline drawn from the September 2022 low.
Current price action looks again set to test this trendline for support. This area falls in-between the 50% and 61.8% Fibonacci retracement levels from the move down from the 17th of July high.
Looking to place a potential long trade pending a test of the trendline holding. I would then be looking for a move higher to test the upper trendline drawn from the July high. Stop would be placed just below the 61.8% Retracement level and S1 support line.
Should we breach S1 support level, I would then be looking to the downside for further trade opportunities. This would indicate a triangle breakout and we could potentially see a move back to the September 2022 low at S3.
Current price action looks again set to test this trendline for support. This area falls in-between the 50% and 61.8% Fibonacci retracement levels from the move down from the 17th of July high.
Looking to place a potential long trade pending a test of the trendline holding. I would then be looking for a move higher to test the upper trendline drawn from the July high. Stop would be placed just below the 61.8% Retracement level and S1 support line.
Should we breach S1 support level, I would then be looking to the downside for further trade opportunities. This would indicate a triangle breakout and we could potentially see a move back to the September 2022 low at S3.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.