EUR/USD Multi-Timeframe analysis (15/03/2021)

Hi Traders

EUR/USD Multi-Timeframe analysis (15/03/2021)

H1 Chart (BUllish)

Target 1 at 1.19424 has been reached. We closed 50% of our position and have moved the stop loss at the lock-in-profits level at 1.18966 . Provided the market conditions will remain the same Target 2 will be reached soon.

Support & Resistance
1.18865 1.19148
1.18681 1.19455
1.18559 1.19891

H4 Chart (Bearish)

A high probability, entry signal to go SHORT was given at 1.19405 after the market found resistance at 1.19690 . Only the upward break of 1.19690 would cancel the bearish scenario.

Support & Resistance
1.18348 1.19910
1.17563 1.21121
1.16232 1.21738

Daily Chart (Strong Down)

The market is approaching the resistance at 1.19891 . We are waiting to see reversal signals in order to reinstate SHORT positions. Next important resistance is the 1.22421 level.

Support & Resistance
1.19517 1.19891
1.18348 1.22421
1.17438 1.23485

Weekly Chart (Strong Up)

The market is dominated by uncertainty. The occasionally prevailing trend lasts for a limited time and changes its direction too frequently. As long as the market remains unstable, we stay aside, waiting for the market to get back on track.

Support & Resistance
N/A N/A