Over the past few weeks, the EUR/USD currency pair has shifted its direction and gained around 300 pips in an upward movement. This rally led to the formation of a Double Top pattern slightly above the 1.05 level. As a result, the price is currently experiencing a pullback. We anticipate that this decline could extend further downward, with the potential to test the 1.04 region. This level coincides with the key 38% Fibonacci retracement, a historically strong support zone that has influenced price action in previous instances.
Given the prevailing bullish momentum, we are inclined to enter a long trade once the price reaches this support area. Our bias is reinforced by the presence of a Golden Cross, a widely recognized technical indicator that signals a buying opportunity. However, to maximize our risk-to-reward ratio, we prefer to wait for the price to retrace toward the 38% Fibonacci level before executing a buy order. Once the trade is triggered, our target will be positioned above the 1.05 resistance zone, aiming to capture the next bullish wave. This approach ensures a strategic entry while leveraging strong technical signals to optimize trade performance.
Given the prevailing bullish momentum, we are inclined to enter a long trade once the price reaches this support area. Our bias is reinforced by the presence of a Golden Cross, a widely recognized technical indicator that signals a buying opportunity. However, to maximize our risk-to-reward ratio, we prefer to wait for the price to retrace toward the 38% Fibonacci level before executing a buy order. Once the trade is triggered, our target will be positioned above the 1.05 resistance zone, aiming to capture the next bullish wave. This approach ensures a strategic entry while leveraging strong technical signals to optimize trade performance.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。