EURUSD Breakout Incoming Don’t Miss This Key Signal!
EURUSD Breakout Incoming Don’t Miss This Key Signal!
EURUSD Breakout Incoming Don’t Miss This Key Signal!
EURUSD Breakout Incoming Don’t Miss This Key Signal!
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant Chart Pattern
- Cup and Handle Breakout forming on higher timeframes.
- Higher Highs and Higher Lows, indicating a strong uptrend.
- Parabolic SAR supporting the uptrend.
- Price trading above 200-SMA, 150-SMA, and 50-SMA.
- RSI at 68.20, nearing overbought levels but still bullish.
Upcoming Events Impacting EUR/USD
- US CPI & FOMC Meeting (Potential High Impact)
- ECB Interest Rate Decision (May impact further upside)
- US Job Data (NFP & Unemployment Rate)
Observations
- Momentum remains strong, as indicated by the RSI and volume spike.
- Breakout from prior resistance near 1.0720, confirming bullish sentiment.
- Price extended away from moving averages, indicating the need for a pullback.
- Potential resistance near 1.1000 psychological level.
Final Takeaway
- Short-term traders: Wait for a minor pullback near support for a better risk-reward.
- Long-term traders: Uptrend intact; trailing stop recommended.
- Risk: Overbought RSI may trigger short-term selling.
Breakout Strategy (Bullish)
- Entry: On pullback near 1.0850-1.0870 (previous breakout zone).
- Stoploss: Below 1.0790 (-0.5%).
- Target 1: 1.0940 (+0.5%) | Target 2: 1.0995 (+1%) | Target 3: 1.1050 (+1.5%).
Breakdown Strategy (Bearish)
- Entry: If price closes below 1.0800 with strong selling pressure.
- Stoploss: 1.0865 (above resistance).
- Target 1: 1.0745 (-0.5%) | Target 2: 1.0690 (-1%) | Target 3: 1.0635 (-1.5%).
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice. Always consult a professional before making investment decisions.
Online Stock Market Traning : Whatsapp : 9841986753
One to One Share Market Training : Whatsapp : 9841986753
RUPEEDESK SHARES
Rupeedesk Shares| Share Market Training | Intraday Training | Wealth creation
Stock Market Training for beginners,Technical Analysis on Equity,Commodity,Forex Market,Learn Indian Equity Share Market Share Market Trading Basics: Fundamentals Of Share Market Trading training, Stock Market Basics - Share Market Trading Basics,Share Market Trading Questions/Answers/Faq about Share Market derivatives,rupeedesk,learn and earn share Equity,Commodity and currency market traded in NSE,MCX,NCDEX And MCXSX- Rupeedesk.Contact: 9094047040/9841986753/ 044-24333577, www.rupeedesk.in)
No comments:
Post a Comment