EURUSD Price action have been quite choppier from over past few days.
There are possible 2 scenarios that I am looking right now.
Scenario 1: As 4 hour chart shows Bullish MACD convergence so it is possible that market may break up straight away and test 1.1459 area.
Scenario 2: Since momentum on higher time frames is still quite bearish so might be possible that it may test the support area around 1.1215 where I see the scope for a bounce towards 1.1459.
So in first scenario Its good to trade with a Buy Stop order or you can trade with Buy limit order in case 2.
Thank you for your support.
Good Luck with the trade idea.
There are possible 2 scenarios that I am looking right now.
Scenario 1: As 4 hour chart shows Bullish MACD convergence so it is possible that market may break up straight away and test 1.1459 area.
Scenario 2: Since momentum on higher time frames is still quite bearish so might be possible that it may test the support area around 1.1215 where I see the scope for a bounce towards 1.1459.
So in first scenario Its good to trade with a Buy Stop order or you can trade with Buy limit order in case 2.
Thank you for your support.
Good Luck with the trade idea.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.