EMkioko

EURUSD analysis NY - 25.01.2023

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EMkioko Обновлено   
FX:EURUSD   Евро / Доллар США
What are we seeing here?

-Price went up and reached our coveted 1.09200 zone breaking the previous high found at 1.09100 area.
-It was met by a high resistance at 1.09200 area and fell to establish a new higher high supported by our trendline.

-Note that on touching the trendline, price shot back up to close above the minor resistance at 1.08900 area as though it found support here.

-Looks like price is just consolidating between the zones 1.08400 & 1.09200. The trendline however holding strong and ensuring that we form higher lows & higher highs as if an ascending triangle.

-I am optimistic we will break the 1.09200 area.

-I hope the chart and explanation makes sense to you too.
Комментарий:

Look at the difference in areas price support and resistance as per the line chart and compare it with the candlestick chart..

-Huge difference huh?

-I find the line chart more accurate in mapping out support & resistance compared to the candle chart.
Комментарий:
-Place a buy stop above the kangaroo tail around price 1.09025 so that if price breaks above the kangaroo tail it triggers the trade and ride it up to the 1.10000s.

-Good luck body.

-Enough of the markets today.
Комментарий:

Played out nice.

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