EURUSD US Session: Today no there is not much market movement with major pairs. EURUSD has recently formed a small top around daily major resistance level R1. But the market is trending upward so we would be looking forward to buy mostly unless it constantly rejects R1.
Trading Chart Set up:
- EURUSD Minute 5 Chart.
- Indicator used: Gann Intraday Pivot Indicator
Based on our Gann Intraday pivot analysis, we can see that market is reacted a top around major resistance level R1. Reacted 9 pips from there. But our indicator indicating the market is currently in bullish price zone. So we will wait to see how the market reacts. Cause at this point we can sell or we can buy if the market breaks the R1 level.
If we look at the big picture, then we can see market already broke a downward trend line, so possibility towards buy trade.
Indicator showing Day Trend is weak, also today is no major news releases coming up. So if a reversal pattern(Double top or failure swing highs) forms around R1 then we can sell up to minor resistance level R1 1.1768. Otherwise if broke above 1.1795 then we can buy EURUSD position up to 1.1811