Pre Market Analysis

2019-11-25 02:53:46

From November 4th to November 14th we had a nice downtrend on the EUR/USD from a high of 1.11734 to a low of 1.09905 on the 22 hour chart. Price then came back up, retested around the 1.10164 at my support line, and then continued up breaking the previous high of 1.10394 and finding resistance at my 1.1019 resistance line. Price then started ranging, eventually dropping to where it sits pre market, and closed Friday evening at my support line of 1.10164. Currently, I will wait for price to break the previous high to form my 3rd point of reference to confirm that price is in an uptrend. Lastly I will wait for price to pull back, making sure it does not go below the previous low and look for entries for the upside.