Euro/USD technical analysis: Video for currency investors and traders
Potential Bull Flag Formation 🏳️
Second touch point on June 3rd 📅Potential breakout identified but not confirmed yet 🚩
Job Report Impact 📉
Tight stop hit after the job report release on Friday 📊Importance of maintaining stops due to new market events 🛑
Daily Time Frame Strategy 🕒
Two bullish daily candles needed for better confirmation 📈Early entry attempts carry higher risks but potential for greater rewards ⚖️
Support and Resistance Levels 📉📈
Double support around 1.0769 📉Anchor VWAP from April 16 low 📊EMA level at 1.0835 on the daily chart as potential retracement point 📏
Market Sentiment and Technical Junctions 📊
Watch for shorts covering and new longs entering around key support levels 👀Potential retracement to mid-channel or lower deviation of VWAP 📉
Bearish Indicators and Fundamental Factors 📉
Current outlook appears bearish 🚨Political factors, such as EU elections, may influence market sentiment 🗳️
Long-Term Buy Opportunities 💰
Possible buy zone if price reaches lower part of the channel 📉Strategic buys above October 2023 low for potential long-term gains 📈
Risk Management ⚠️
Always use stops and manage trades carefully 🛡️Follow reputable sources like forexlive.com for additional insights 🌐
Trade wisely and manage your risk effectively! 🚀
This article was written by Itai Levitan at www.forexlive.com.
