EURUSD Bulls vs Bears Who Wins This Week ?
EURUSD Bulls vs Bears Who Wins This Week ?
EURUSD Bulls vs Bears Who Wins This Week ?
EUR/USD Bulls vs Bears: Who Wins This Week?
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant Upcoming Events:
- Keep an eye on major economic reports like interest rate decisions, GDP data, and employment figures.
- Any central bank announcements or geopolitical news could influence market movements.
Trend Analysis:
- The chart shows a strong uptrend after breaking through key resistance levels.
- The price has consistently respected moving averages, signaling a bullish bias.
- Higher highs and higher lows confirm the continuation of the trend.
Observations:
- RSI indicator: Approaching overbought levels, suggesting potential consolidation or a minor pullback.
- Momentum: Strong upward momentum, indicating that buyers are in control.
- Volume: Increasing volume during the breakout, confirming the strength of the trend.
RSI Divergence Reason:
- Bearish divergence: If price makes new highs but RSI fails to do so, it indicates weakening momentum and a possible reversal.
- Bullish divergence: If RSI forms higher lows while price forms lower lows, it signals a potential reversal to the upside.
Final Takeaway:
- For bulls: Look for a retest of support levels as a potential buying opportunity.
- For bears: Watch for bearish divergence or a breakdown below key moving averages for shorting opportunities.
Breakout Strategy (Bullish):
- Entry: Buy above 1.0850 after confirmation on pullback.
- Stop Loss: Below 1.0750 | Target 1: 1.0950 | Target 2: 1.1050
Breakdown Strategy (Bearish):
- Entry: Sell below 1.0750
- Stop Loss: Above 1.0850 | Target 1: 1.0650 | Target 2: 1.0550
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice. Always consult a professional before making investment decisions.
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