Hi traders! Analyzing EUR/USD on the 30-min timeframe, price is currently reacting near the bottom of a well-defined ascending channel, signaling a potential bullish continuation within the trend:
🔹 Entry: 1.17071
🔹 Take Profit: 1.17423
🔹 Stop Loss: 1.16825
After a corrective move downwards, price tapped into a key trendline support, aligning with prior structure and psychological level near 1.1700. The RSI is showing a bullish divergence near oversold levels, adding confluence to a possible reversal.
As long as price holds above the lower boundary of the channel, bulls may look to target the mid-to-upper region of the range, aligning with previous highs and dynamic resistance.
🟢 The trend remains intact as long as higher lows are respected.
⚠️ DISCLAIMER: This is not financial advice. Every trader is responsible for managing their own risk and strategy.
🔹 Entry: 1.17071
🔹 Take Profit: 1.17423
🔹 Stop Loss: 1.16825
After a corrective move downwards, price tapped into a key trendline support, aligning with prior structure and psychological level near 1.1700. The RSI is showing a bullish divergence near oversold levels, adding confluence to a possible reversal.
As long as price holds above the lower boundary of the channel, bulls may look to target the mid-to-upper region of the range, aligning with previous highs and dynamic resistance.
🟢 The trend remains intact as long as higher lows are respected.
⚠️ DISCLAIMER: This is not financial advice. Every trader is responsible for managing their own risk and strategy.
Trade closed: stop reached
😔
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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.
🔥 Top indicators I personally use 👇
tinyurl.com/3dh9em7m
tinyurl.com/3dh9em7m
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.