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EURUSD technical analysis and what I am watching next

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.

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