EURUSD DAILY ANALYSIS - THE WEEK AHEAD

Hey traders,

Here is my analysis for the EURUSD on the previous week and possible scenarios for the upcoming week.

Last week was a busy week with the FOMC interest rate decision as well as NFP on Friday providing liquidity and volatility to the markets.

From a very fundamental S/R perspective I have labeled 4 areas of concern on the charts.

As you can see price is currently at my S/R zone #3. On Thursday price formed a doji candle representing indecision, before price moved up with a bullish close on Friday.

If price can break through S/R #3 I will have a long bias in line with the current mini uptrend EURUSD is currently in.

If price rejects strongly from S/R #3 we will have the long term trend on our side which is down.

Price is currently below the 200 Day Moving Average but fast approaching, I will be looking at the price movements there as well.

My last analysis on EURUSD represented a high risk 1:3 risk to reward ratio which was hit. Excited to see how this week plays out.



Daily trade analysis and ideas:

Telegram: https://t.me/Forexdojo
Facebook: https://www.facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: https://www.instagram.com/jaylen.forex/
Website: http://www.forexshinobi.com
Tiktok: @forexshinobi

ForexShinobi