EURUSD Week Plus Bull Flag Consolidation Near Complete
The EURUSD is trying to gain for a 3rd straight day, nearly complete on the Bull Flag consolidation of the past week after forming a fresh November high. Odds are elevated for a test of the psychologically key 1.05 whole figure level before the weekend. With the EURUSD comfortably above downchannel resistance (on the weekly chart), the EURUSD has halted a slide since June 2021, which itself is a part of a major downtrend from 2008. The escalation in the Ukraine-Russia conflict deserves close monitoring. Congratulations to paying subscribers who benefited from the Oct 25, 2022 analysis suggesting early signs of a major bottom forming. The weekly, daily and 4hr RSI, Stochastics and MACD are rallying, although the 4hr Stochastics is overbought. I am looking to go long in the green zone (of the daily chart), targeting the red zone for Wednesday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter). Click here for analysis on AUDUSD, SILVER
Source: Interactive Brokers TWS
Sample of Today’s Top 3 Trades Available to Free Subscribers (published Apr 14, 2021
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