It is early morning now - And, I have been looking at the USDs
Everyone loves a USD trade - Surely, the EURUSD is the most traded, right?
After reviewing my EURUSD chart - I found this...
And, the Monthly, as always....
A Bearish Trendline in place since 2008
The Break-Out & a quick retest happened @the back-end of 2020
Any Buyers on the lower timeframes will have profited from this - Hope you was one?
Either way - The market pushed up, but the last several months has proceeded to drop
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Current Day - The aforementioned Trendline is still in place and the market tested this again in November
Closing out the month of December with a Bullish Pin-Bar
And now - The Weekly Timeframe - It pretty much matches the Monthly and the aforementioned Analysis
This makes life a whole lot easier
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Let's visit the Daily ...
Identifying a Descending Wedge - But, its a tight affair
We have a Range of about 300 pips - But, them CS' are looking averagely sized
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Personally, A break above the 1.149 Resistance would present Buy Opportunities
If you are a risky trader - Have a look at the H4 for an early entry for a Buy - Bearish Trendline @Resistance
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Alternatively, The shorts may be found below - With a close below the 1.118 and a re-test of the confluence of this level - ah?
Lets see people...
Either way - Its on the radar
If you have taken your time to review my Technical Analysis - I praise you!