EURUSD Yesterday’s chart analysis
Saturday’s analysis had several good points that were predicted correctly. The price pulled back on Monday open and the area near $1.14000 was reached. After that the price had another run to the uptrend resistance line.
Confluence of resistance lines at $1.14373 was too hard for the price to break above, so the price pulled back again to the $1.14000 area. From there we can see the price formed strong bullish candle. That was a sign that bearish candle has found buyers at it will not break below $1.14000.
If we take a look at the H1 time frame we can see that there is a nice bullish Pinbar that indicates the price will move up. It was a nice entry signal with very low risk.
That bullish candle is holding buyers above $1.14373 and it is ground for new small bullish candles that are making new highs near the uptrend resistance line.
Get Access to the Same "New York Close" Forex Charts
I am Using in My Analysis
Receive a 10% trade credit bonus when funding with $1000 or more!
EURUSD Chart Forecast
As was said on Saturday’s analysis we could see the price attacking the $1.15000 area. The price is now very close to that level.
We can see that the uptrend resistance line is preventing the price from moving higher, but as it looks like it will reach $1.15000 or around that level in the next day or two.
When the price reaches that level we could see bears stepping in and buyers getting out.
Trading Analysis Bonus
As a bonus I am sending entry ideas.
ONLY for G-Trader members.