Welcome back, guys! 👋 I'm Skeptic.
Today, we're diving deep into EUR/USD, breaking down the current structure and upcoming trade opportunities. 🔍
Recap & Current Structure:
As mentioned in our previous analysis, after breaking the descending trendline and pulling back, we had created a higher high, indicating a potential move toward the top of the box at 1.09453. Our long trigger at 1.08454 played out well, reaching a 2.77% upward move! If you followed the idea, you saw the results!
Currently, after breaking resistance at 1.09418, we saw a pullback, and it's now acting as support. We also have a new resistance at 1.10892, along with a higher high that confirms the uptrend. I’m still looking for long triggers as long as the trend remains intact.
However, as we always say, it's crucial to be skeptical and analyze the market from both sides. So, in the coming days, I’ll keep an eye out for both long and short triggers, depending on how the price moves.
📈 Bullish Scenario (Long Setup):
📉 Bearish Scenario (Short Setup):
⚠️ Key Notes:
Risk Management: Avoid overleveraging—wait for confirmed breaks before entering.
Stay sharp, and I’ll see you in the next analysis!
Today, we're diving deep into EUR/USD, breaking down the current structure and upcoming trade opportunities. 🔍
Recap & Current Structure:
As mentioned in our previous analysis, after breaking the descending trendline and pulling back, we had created a higher high, indicating a potential move toward the top of the box at 1.09453. Our long trigger at 1.08454 played out well, reaching a 2.77% upward move! If you followed the idea, you saw the results!
Currently, after breaking resistance at 1.09418, we saw a pullback, and it's now acting as support. We also have a new resistance at 1.10892, along with a higher high that confirms the uptrend. I’m still looking for long triggers as long as the trend remains intact.
However, as we always say, it's crucial to be skeptical and analyze the market from both sides. So, in the coming days, I’ll keep an eye out for both long and short triggers, depending on how the price moves.
📈 Bullish Scenario (Long Setup):
- Trigger: Break & close above 1.10892
- Confirmation: 7 SMA below the candle during the breakout + RSI entering overbought
- Invalidation: Rejection + close back below 1.09418
📉 Bearish Scenario (Short Setup):
- Trigger: Rejection at 1.10213 + drop below 1.09418
- Confirmation: RSI entering below 42.22
⚠️ Key Notes:
Risk Management: Avoid overleveraging—wait for confirmed breaks before entering.
Stay sharp, and I’ll see you in the next analysis!
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