EURUSD BUY: Weekly, Dailly & 1hr analysis
EURUSD Thesis
- Weekly: After huge rejection off 1.1200 psychological weekly zone last weeks candle closed as a bearish engulfing signalling bear strength. Market structure on HTFs bearish.
- Daily: New lows formed at 1.1050 psychological level. Could see price retrace back up to 1.1170 for recovery with market showing signs of bullish momentum with friday candle closing as a hammer.
- 1hr: Break of descending trendline swinging momentum from bearish to bullish. Now waiting for a retest of 1.1100 psychological level before rally up to 1.1170.
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