Well hello folks, hope you are well. Amirali here with an analysis on EURUSD.
As you can see, EURUSD opened with a rather big gap this week, but bounced back up and went high, reaching 1.1750, just below the April 20th NWOG C.E. which is located at 1.1752. Then afterwards, it started to drop and is now being traded at 1.1744, which is just above the April 20th NWOG Low at 1.1740.
I'd like to see EURUSD go to retest the NWOG Consequent Encroachment at 1.1752 but it could drop where it is right now without going back to the NWOG C.E.. I expect EURUSD to go below to the 1.1718 level, if the support is lost here, further drop to 1.1700 is expected. If this support is also lost, further drop to the 1.1683 could happen.
Reminder: due to the fact that US and IR's negotiation has broken down, the US dollar is being strengthened, and any news regarding the war could drop or surge EURUSD in price.
However, if EURUSD succeeds at retesting the NWOG C.E. at 1.1752, it could go higher towards the 1.1762 level and above it to sweep the liquidity, then drop back to the C.E. and using it as a support to go back higher, eyeing the 1.1768 level, and finally the 1.1791 level for its liquidity to be swept away.
As you can see, EURUSD opened with a rather big gap this week, but bounced back up and went high, reaching 1.1750, just below the April 20th NWOG C.E. which is located at 1.1752. Then afterwards, it started to drop and is now being traded at 1.1744, which is just above the April 20th NWOG Low at 1.1740.
I'd like to see EURUSD go to retest the NWOG Consequent Encroachment at 1.1752 but it could drop where it is right now without going back to the NWOG C.E.. I expect EURUSD to go below to the 1.1718 level, if the support is lost here, further drop to 1.1700 is expected. If this support is also lost, further drop to the 1.1683 could happen.
Reminder: due to the fact that US and IR's negotiation has broken down, the US dollar is being strengthened, and any news regarding the war could drop or surge EURUSD in price.
However, if EURUSD succeeds at retesting the NWOG C.E. at 1.1752, it could go higher towards the 1.1762 level and above it to sweep the liquidity, then drop back to the C.E. and using it as a support to go back higher, eyeing the 1.1768 level, and finally the 1.1791 level for its liquidity to be swept away.
تم إغلاق الصفقة يدويًا
As you can see, EURUSD moved based on the previous analysis and dropped below the 1.1700 level, reaching 1.1686. Reaching the 1.1683 target is still possible but I'd rather take partials and close the position here. Currently, EURUSD is below the April 13th NWOG C.E. which is at 1.1697.From here, If EURUSD manages to go back above the NWOG C.E., we could see a rise to 1.1718.
However, if it fails, further drop to 1.1683 level and then a drop to 1.1662 is expected.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
Free channel: t.me/AmirAliTrading_Official
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
Wanna join the Gold, Forex and Crypto Premium channel or do you wanna start the mentorship? Contact me: t.me/Amirali_Trading
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.