Detailed EURUSD Analysis: Both BUY/SELL set-ups.
I published an idea for EURUSD last week which was about going long in the 1.1075-1.1100 zone. That idea worked pretty well.
Through this analysis, I am going to take a look at both BUY and SELL set-ups.
BUY Set-up
We can see from the chart that the price is still in the Support Zone and there is also a horizontal support at 1.1071 area which can trigger an upside move. However, the previous day's big red candle is not looking very promising for longs. Buyers should wait for some confirmation before going long.
SELL Set-up
The sell set-up will be valid if price finds acceptance below the Support zone and preferably below 1.1070. In that can EURUSD can drop to the next support at 1.10
Through this analysis, I am going to take a look at both BUY and SELL set-ups.
BUY Set-up
We can see from the chart that the price is still in the Support Zone and there is also a horizontal support at 1.1071 area which can trigger an upside move. However, the previous day's big red candle is not looking very promising for longs. Buyers should wait for some confirmation before going long.
SELL Set-up
The sell set-up will be valid if price finds acceptance below the Support zone and preferably below 1.1070. In that can EURUSD can drop to the next support at 1.10
