Eur/usd Long setup forming MA crossover and risk sentiment!!

2020-01-07 15:32:42

Top down Analysis

WEEKLY TIMEFRAME
There are 3 key level we should pay close attention to . support level =1.11780 which currently the price is floating at and we need to see a clear break of resistance=1.1200 for a more move to upside minor support 1.11400 which obeys the trend-line and where we see lot of liquidity

Daily timeframe
We clearly see price forming a higher high and retraced all the way back to 50% fib level in daily and 61.8% in H4 . which are golden level for retracement. The other confimation is we see price forming head and shoulder pattern and currently the price is retesting the neck!

H4 and H1 timeframe
we see a clear retest of the neck line of head and shoulder at 1.11740 and MA crossover in H4 which indicates more upside potentila

Target
for swing trade i see eur/usd going all the way to 1.12500

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