EURUSD will it pushes higher?
Aktualisiert
**Monthly Chart**
EURUSD Last month's candle closed bearish after taking the previous month's high (May 2024) then sharply pushed and closed lower. However, this month's candle (Still active - July 2024) opened at the low of the range of the previous month only to push higher after it tested the demand zone around 1.06600 level. This has given a strong momentum for buyers to push the price at least towards breaking 1.1000 round number) supply zone.
**Weekly Chart**
On the weekly chart EURUSD looks like it is in a large range between 1.06000 and 1.09150 from March 2024. The price attempted to break the high three times but it failed. This time with a close of a strong bullish candle last week, this suggests a continuation of the trend at least to break the high and test 1.1000 level. However, it is risky to buy at the high. So we will wait for a good retracement or corrective structure to provide us an opportunity to buy for another push to the upside. In this case, we will look at lower time frames for better risk-to-reward and good execution parameters.
**Daily Chart**
EURUSD remains bullish, however, it is moving through a critical price location near the previous daily swing and liquidity pool. The expectation for this week is for a corrective structure before one more bush to the upside at least to take the liquidity above 1.09160 and then move towards 1.1000.
EURUSD Last month's candle closed bearish after taking the previous month's high (May 2024) then sharply pushed and closed lower. However, this month's candle (Still active - July 2024) opened at the low of the range of the previous month only to push higher after it tested the demand zone around 1.06600 level. This has given a strong momentum for buyers to push the price at least towards breaking 1.1000 round number) supply zone.
**Weekly Chart**
On the weekly chart EURUSD looks like it is in a large range between 1.06000 and 1.09150 from March 2024. The price attempted to break the high three times but it failed. This time with a close of a strong bullish candle last week, this suggests a continuation of the trend at least to break the high and test 1.1000 level. However, it is risky to buy at the high. So we will wait for a good retracement or corrective structure to provide us an opportunity to buy for another push to the upside. In this case, we will look at lower time frames for better risk-to-reward and good execution parameters.
**Daily Chart**
EURUSD remains bullish, however, it is moving through a critical price location near the previous daily swing and liquidity pool. The expectation for this week is for a corrective structure before one more bush to the upside at least to take the liquidity above 1.09160 and then move towards 1.1000.
Anmerkung
Weekly Updates: 20.07.2024EURUSD broke the high of 4th June 2024 daily swing high, swiped the liquidity and moved lower. However, the long term bias is still long on EURUSD. Therefore, this week we will be looking for a buy setup if it does not breaks the low below 1.08000 level. So wait for corrective structure and for one more push to the upside. Next target at 1.1000 .
Anmerkung
Weekly Updates: 27.07.2024EURUSD is expected to resume the bullish move after it tested and balanced the IPA of 11th July 2024. This week I will be looking for a buying opportunity if the price does not break the low of the previous week's swing. The next target will be at the break of the daily swing high and then at around 1.10000 level
Trade geschlossen: Ziel wurde erreicht
Next target on EURUSD is 1.11000
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