EUR/USD - Day Trade Analysis

In this EUR/USD analysis I am using the 15-min time frame. On the monthly and weekly chart for EUR/USD the pair can be seen in a current uptrend. Price may continue to go up from its current point but If I were to enter I would place my entry at retrace a little but the pair looks strong. As a day trading perspective this analysis I would enter this pair at the bottom support zone between 1.2342 and 1.2352. This is a preferable resistance level that fits my strategy; Depending on where I placed the trade I would exit the trade at my take profit zone between 1.2362 and 1.2370. I would only place this trade if the price hit my preferable support zone. If not, I would not enter and appreciate the market for its graceful twists and turns. Happy trading!

Kommentera:

I could have made this analysis much stronger if I included the middle range between the previous range and projected range; If I had added this in my analysis I would have then got in at a much better position. EUR/USD hit the major support zone and sky rocketed.

*Important Note*
Here I made a mistake but I try my best to learn from it the first time; being aware of mistakes is crucial to becoming a trader and in all humbleness I would recommend you to be aware of your mistakes because if mistakes are repeated this means more losses or less profits.