FX.co ★ zunaira7518 | EUR/USD

EUR USD ANALYSIS On four hour time frame

On the 4H, EUR USD dropped hard from 1.1740 and found buyers at 1.1591. That level held with a big wick and we got 2 strong bullish candles pushing off the lower Bollinger Band. Price broke above the blue 20 MA at 1.1637 and is now testing the red line at 1.1671. That red line capped price before the drop to 1.1591. Close above 1.1675 on the 4H and next target is 1.1728, then 1.1740. Get rejected and we’re likely back to test 1.1637 and 1.1602. BBs are starting to expand, so volatility is coming back. One Hour chart

1H should be showing EUR USD breaking above its 20 MA and grinding higher toward 1.1671. Support on 1H is probably around 1.1637 where the 20 MA sits. If we break 1.1675 on 1H with volume, 1.1728 is next. If we stall, expect a pullback to 1.1637. 15 minutes time frame

15m is where you’d manage the trade. Support around 1.1637-1.1640, resistance 1.1671-1.1675. Price hugging upper BB means trend is strong but a rejection candle at 1.1675 would be your short signal back to 1.1637. Break + retest of 1.1675 long to 1.1728. Trading plan Don’t chase longs at 1.1657 with 1.1675 overhead. If bullish: wait for 15m close above 1.1675 + retest, then long to 1.1728 with stop under 1.1637. If bearish: short rejection at 1.1671-1.1675 on 1H close back below 1.1637, target 1.1602 with stop above 1.1680. Key point Support 1.1637 on 4H, 1.1602 zone, 1.1591 big support resistance 1.1671-1.1675 red line, then 1.1728, 1.1740