EURUSD technical analysis and what I am watching next

Euro/USD technical analysis: Video for currency investors and traders

  • Potential Bull Flag Formation 🏳️

    • Second touch point on June 3rd πŸ“…
    • Potential breakout identified but not confirmed yet 🚩
  • Job Report Impact πŸ“‰

    • Tight stop hit after the job report release on Friday πŸ“Š
    • Importance of maintaining stops due to new market events πŸ›‘
  • Daily Time Frame Strategy πŸ•’

    • Two bullish daily candles needed for better confirmation πŸ“ˆ
    • Early entry attempts carry higher risks but potential for greater rewards βš–οΈ
  • Support and Resistance Levels πŸ“‰πŸ“ˆ

    • Double support around 1.0769 πŸ“‰
    • Anchor VWAP from April 16 low πŸ“Š
    • EMA level at 1.0835 on the daily chart as potential retracement point πŸ“
  • Market Sentiment and Technical Junctions πŸ“Š

    • Watch for shorts covering and new longs entering around key support levels πŸ‘€
    • Potential retracement to mid-channel or lower deviation of VWAP πŸ“‰
  • Bearish Indicators and Fundamental Factors πŸ“‰

    • Current outlook appears bearish 🚨
    • Political factors, such as EU elections, may influence market sentiment πŸ—³οΈ
  • Long-Term Buy Opportunities πŸ’°

    • Possible buy zone if price reaches lower part of the channel πŸ“‰
    • Strategic buys above October 2023 low for potential long-term gains πŸ“ˆ
  • Risk Management ⚠️

    • Always use stops and manage trades carefully πŸ›‘οΈ
    • Follow reputable sources like for additional insights 🌐

Trade wisely and manage your risk effectively! πŸš€

This article was written by Itai Levitan at Source