EUR/USD: The Weekly Probability is Bullish as price is

Tian Kriek

Analyst


August 5, 2020 01:30 PM

BEARISH

Daily Trading Range:
EUR/USD: The Weekly Probability is Bullish as price is making higher highs and the down Inner Trend Line was broken. Next meaningful Weekly resistance is at 1.1800 which is a Psychological level and the Weekly down Outer Trend Line. On the Daily chart I can see that there is an UP AB Boundary and the Fibonaci D Extension was hit. The Daily Fibonacci D Extension formed a confluence with the Weekly Pivotal Level at 1.1800 which means that price is overbought. I shall wait for a retracement before buying again. Get this chart and analysis for free. Copy and Paste the following link in your browser: https://smarttrader.com/charts/tkriek/tk-aod-workspaces-5-aug/

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 1.2000
Resistance 2: 1.1700
Resistance 1: 1.1200
Current Price 1.1873
Support 1: 1.1100
Support 2: 1.0500
Support 3: 1.0000

Two Hour Chart

Two Hour Chart
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