Evening Traders,
Today’s Forex Analysis – EURUSD – trading directly at its VAH where a rejection is plausible,
Points to consider,
- Price action impulsive
- POC S/R Support
- Daily S/R Support
- .618 Fibonacci Confluence
- Psfp Confluence
EURUSD’s immediate price action is rejection from its VAH, increasing the probability of a pull back into support confluence of the POC, Daily S/R, .618 Fibonacci and Psfp – allowing for a bullish bias.
The immediate objective is the Daily S/R, exceeding this level will lead to a trend continuation and an establishment of a higher low.
Overall, in my opinion, EURUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“Sometimes the best trade is no trade.” – Anonymous
Today’s Forex Analysis – EURUSD – trading directly at its VAH where a rejection is plausible,
Points to consider,
- Price action impulsive
- POC S/R Support
- Daily S/R Support
- .618 Fibonacci Confluence
- Psfp Confluence
EURUSD’s immediate price action is rejection from its VAH, increasing the probability of a pull back into support confluence of the POC, Daily S/R, .618 Fibonacci and Psfp – allowing for a bullish bias.
The immediate objective is the Daily S/R, exceeding this level will lead to a trend continuation and an establishment of a higher low.
Overall, in my opinion, EURUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“Sometimes the best trade is no trade.” – Anonymous