Let's see how EURUSD is behaving.
This is a 1D chart. (Long Term)
Fib Retracement levels show two support areas and two resistance areas on the way up. Right now, the price is sitting on local support. The market is showing Strong Sell volumes so watch out.
Support levels: $1.05 - 1.09
Resistance Area: $1.11 - $1.15
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing STRONG SELL volumes for EURUSD.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that EURUSD is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $1.09107
Let me know your ideas.
Good luck.
This is a 1D chart. (Long Term)
Fib Retracement levels show two support areas and two resistance areas on the way up. Right now, the price is sitting on local support. The market is showing Strong Sell volumes so watch out.
Support levels: $1.05 - 1.09
Resistance Area: $1.11 - $1.15
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing STRONG SELL volumes for EURUSD.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that EURUSD is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $1.09107
Let me know your ideas.
Good luck.