Categories: Forex Education

EURUSD – Short-term Buy Opportunity

The Euro continued to trade in a range on the higher timeframe (daily) against the US Dollar. There is a triangle pattern forming on the daily chart of the EURUSD pair, and there is a chance that the pair might spike one more time higher to test the triangle resistance area. It also looks like a 5-waves structure and we could be in the 4th wave currently.

So, I think the best idea would be to wait for a small correction from the current levels towards the 100 moving average on the 4-hours chart to enter a buy trade.

Technical Analysis

D1– Chart representing the triangle pattern formed on the daily chart.

Entry:

H4– We can wait for a move down towards the highlighted support area near 1.1020-40 to enter a buy trade.

Target 1: 1.1180
Target 2: 1.1240
Stop Loss: Below the last low created before entering into a trade

Video Explanation:

Advertisement

Click To Join Our Community Telegram Group

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.

Recent Posts

Weekly Summary And Review 14th March 2025

Hi Traders! Arvinth here from the Home Trader Club team. The weekly summary and, review of March…

2 days ago

Wall St Trips On Trump’s Latest Tariff Threat; Inflation Data Offers Respite

The main U.S. stock indexes slipped on Thursday as President Donald Trump's escalated tariff rhetoric…

3 days ago

EURAUD Short Term Forecast And Technical Analysis

Hi Traders! EURAUD short term forecast and technical analysis post is here. We do our…

3 days ago

GBPNZD Short Term Forecast Update And Follow Up

Hi Traders! GBPNZD short term forecast update and follow up is here. On December 5th,…

4 days ago

EURJPY Technical Analysis And Short Term Forecast

Hi Traders! EURJPY technical analysis and short term forecast post is here. We do our…

4 days ago

EURAUD Short Term Forecast Update And Follow Up

Hi Traders! EURAUD short term forecast update and follow up is here. On December 3rd…

5 days ago