EUR USD MARKET ANALYSIS
On the previous day's movement on Friday the market was able to move a turn as deep as 110 pips and was a very ideal market category because in everyday life it moves without correction, while on Friday the price also responds with a very beautiful increase of 60 pips,
In the case of the market, if in anlsia with a technicality, if the price tends to have a pattern in the period before 22 o'clock, it has filled its daily range, then the price will return to a correction to the area of 50 percent of the market movement, and it happens that the next day is Saturday, therefore the market is closed and continued on Monday kmren and has moved ideally with 60 pip movements in 1 day,
This pair, which is idolized by many market players, has not subsided in popularity and is even more busy trading. Aggressive movements are very risky to suffer losses but are faced with large rewards as well. Sometimes many traders feel "cheated by the market "but things like that are just the feeling of the trader because they do the wrong analysis and lead to losses. With this the need for careful analysis is also a determining factor for success when trading. By thinking about possible price movements and seeing previous history whether the market is still can go up or down that has happened in the previous time, and think about the possible risk of a traded lot whether it will turn out good or bad.
For this morning I tried to analyze GBPUSD using the H4 time frame where the candlestick was not able to go up further and instead reversed after being in the same position as some time ago. In my view, the price may move down to the point 1.3854 and can move a bullish reversal after touching that point, why is that? Because if you look at the candlestick from some time ago the price movement occurred like that several times the candlestick failed to break the support line 1.3854 and instead moved up. The RSI (Relative Strength Index) indicator also allows prices to rise since they haven't entered the overbought or overbought area, because if it has gone down to the point of 1.3854 it can be said that a correction has occurred. So wait until like the explanation I have described, then do an open entry point buy. I think that's all I can say, more or less
EURUSD currency pair analysis
In the EURUSD currency pair, on the previous day on the H4 time frame the price was also unable to make a higher high, and the price has also succeeded in making a lower low because the previous price failed to make a higher high so I think the trend in this EURUSD currency pair has changed from the uptrend becomes a downtrend, and for the decline itself, it is likely that the price will be able to go to the support level at the price of 1.20192 and it is even possible that this level will be successfully broken and the price will go to the next support level, namely the price of 1.19581. The reason I think that the price will be able to go to the next support level is because I see the EURGBP currency pair also experiencing a decline, because GBPUSD and EURUSD usually move in the same direction,
Apart from buying and selling the EUR USD currency pair, there is also planning for trading in several major currency pairs. With the technical evaluation of the supply and demand for the foreign currency pair EUR USD, it is expected that this week's trading will continue to weaken. If we analyze it on the 1-hour trading chart, the EUR USD foreign currency pair is still buying and selling under the promotional stronghold at 1.1920, and the downside for the EUR USD foreign currency pair is expected to be the lowest price at 1.1875.
For the promotion plan for the EUR USD currency pair if it is trading below the price of 1.1875, for the income limit I will set it at 1.1850 and for the chance limit I will set it at 1.1890. For a plan to buy the EUR USD currency pair if it buys and sells above the price of 1.3920 I set the income limit at 1.3950 and the loss line at 1.1900.