EUR/USD Weekly Bias Analysis
Technical analysis appears well-reasoned:
1. Short-term bearish bias: You anticipate a decline towards the previous week's low, indicating a potential short-term downtrend.
2. Bullish reversal zone: You've identified a critical area, marked by the weekly Fibonacci Volume Zone (FVG), where a potential bullish reversal could occur.
3. Upside target: Your analysis suggests a move towards the weekly high, offering a clear profit target.
# Key Confirmation Factors:
To validate your bias and adjust your strategy, consider the following:
- Candlestick patterns: Monitor for bullish reversal patterns, such as hammer or engulfing candles, to confirm a potential trend change.
- Momentum indicators: Keep an eye on the Relative Strength Index (RSI) and other momentum indicators to gauge the strength of the potential reversal.
- Volume analysis: Analyze trading volumes to ensure they support your bias, with increasing volumes on up days and decreasing volumes on down days.
By carefully monitoring these factors, you'll be well-positioned to adjust your strategy and capitalize on potential trading opportunities in the EUR/USD market.
Technical analysis appears well-reasoned:
1. Short-term bearish bias: You anticipate a decline towards the previous week's low, indicating a potential short-term downtrend.
2. Bullish reversal zone: You've identified a critical area, marked by the weekly Fibonacci Volume Zone (FVG), where a potential bullish reversal could occur.
3. Upside target: Your analysis suggests a move towards the weekly high, offering a clear profit target.
# Key Confirmation Factors:
To validate your bias and adjust your strategy, consider the following:
- Candlestick patterns: Monitor for bullish reversal patterns, such as hammer or engulfing candles, to confirm a potential trend change.
- Momentum indicators: Keep an eye on the Relative Strength Index (RSI) and other momentum indicators to gauge the strength of the potential reversal.
- Volume analysis: Analyze trading volumes to ensure they support your bias, with increasing volumes on up days and decreasing volumes on down days.
By carefully monitoring these factors, you'll be well-positioned to adjust your strategy and capitalize on potential trading opportunities in the EUR/USD market.
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.
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.