EURUSD: Breakout of the DESCENDING CHANNEL
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the EURUSD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.[/I]
Higher timeframe:
Lower timeframe:
The DXY looks like broke the structure to the downside, and potentially it could retest the level for an upcoming downward movement.
Translated, there are nice possibilities to see a rising of price in most of the USD pairs, but lets have a look about EURUSD. It reached an interesting area, and it has been moving inside a descending channel since months ago, bouncing on the bottom and breaking the structure to the upside.
We previously forecasted bullish move in GBPUSD, and currently, considering the the performance of this market, we are quite confident to see further bullish price action.
When, where and why would we step into the market?
A reversal impulse, correction and breakout of structure, enough confluences to enter long if the market will perform LTF bullish price action.
In case of reversal, back to the channel, it will temporary invalidate the setup and we will be waiting for the next market movement.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.[/I]
Higher timeframe:
Lower timeframe:
The DXY looks like broke the structure to the downside, and potentially it could retest the level for an upcoming downward movement.
Translated, there are nice possibilities to see a rising of price in most of the USD pairs, but lets have a look about EURUSD. It reached an interesting area, and it has been moving inside a descending channel since months ago, bouncing on the bottom and breaking the structure to the upside.
We previously forecasted bullish move in GBPUSD, and currently, considering the the performance of this market, we are quite confident to see further bullish price action.
When, where and why would we step into the market?
A reversal impulse, correction and breakout of structure, enough confluences to enter long if the market will perform LTF bullish price action.
In case of reversal, back to the channel, it will temporary invalidate the setup and we will be waiting for the next market movement.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.[/I]
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