EURUSD Technical Analysis Report – 06-04-2021
Weekly Chart (1.1837)
HISTORICAL PRICE ACTION ANALYSIS
Short Term Trend: Downward
Long Term Trend: Upward
Range: 1.1608 to 1.2253
Resistance: 1.1905, 1.1941, 1.2017, 1.2098, 1.2253, 1.2433, 1.2544, 1.2919
Support: 1.1726, 1.1608, 1.1503, 1.1384, 1.1282, 1.1164, 1.1095, 1.0983, 1.0814
Buying Pressure: Above 1.1905
Movement in the past few weeks: Downward
Movement in the past few days: Downward
EXPECTED FUTURE PRICE ACTION
Reversal Expected/ Correction: Chances are High
Expected movement in the next few days: Upward
Expected Short Term Trend: Upward
Expected Range: 1.1608 to 1.2919
Expected Resistance: 1.1905, 1.1941, 1.2017, 1.2098, 1.2253, 1.2433, 1.2544, 1.2919
Expected Support: 1.1726, 1.1608, 1.1503, 1.1384, 1.1282, 1.1164, 1.1095, 1.0983, 1.0814
Expected Buying Pressure: Above 1.2098
Expected Selling Pressure: Below 1.1608
Trading with proper stop loss (may be in between 30-50 pips) depending upon the volatility will limit the trade risk exposure. Any trigger of stop indicates further revision of strategies as stop loss trigger can drag the prices further in the same direction of stop loss or a change in price direction. So one should be careful and should watch the prices for some time before taking any decision on such events.
Any range breakout or breakout below support levels may create significant short term selling pressure that may allow the prices to depreciate further to its next support level. Any range breakout or breakout above resistance levels may create significant short term buying pressure that may allow prices to appreciate further to its next resistance level.
Short Term Trend: Downward
Long Term Trend: Upward
Range: 1.1608 to 1.2253
Resistance: 1.1905, 1.1941, 1.2017, 1.2098, 1.2253, 1.2433, 1.2544, 1.2919
Support: 1.1726, 1.1608, 1.1503, 1.1384, 1.1282, 1.1164, 1.1095, 1.0983, 1.0814
Buying Pressure: Above 1.1905
Movement in the past few weeks: Downward
Movement in the past few days: Downward
EXPECTED FUTURE PRICE ACTION
Reversal Expected/ Correction: Chances are High
Expected movement in the next few days: Upward
Expected Short Term Trend: Upward
Expected Range: 1.1608 to 1.2919
Expected Resistance: 1.1905, 1.1941, 1.2017, 1.2098, 1.2253, 1.2433, 1.2544, 1.2919
Expected Support: 1.1726, 1.1608, 1.1503, 1.1384, 1.1282, 1.1164, 1.1095, 1.0983, 1.0814
Expected Buying Pressure: Above 1.2098
Expected Selling Pressure: Below 1.1608
Trading with proper stop loss (may be in between 30-50 pips) depending upon the volatility will limit the trade risk exposure. Any trigger of stop indicates further revision of strategies as stop loss trigger can drag the prices further in the same direction of stop loss or a change in price direction. So one should be careful and should watch the prices for some time before taking any decision on such events.
Any range breakout or breakout below support levels may create significant short term selling pressure that may allow the prices to depreciate further to its next support level. Any range breakout or breakout above resistance levels may create significant short term buying pressure that may allow prices to appreciate further to its next resistance level.