EURUSD TradingView: Analysis Today 14.07.2023


EURUSD TradingView Market Analysis
EURUSD TradingView Market Analysis

Introduction

Get the latest market analysis for EURUSD on TradingView and make informed trading decisions. Learn about trends, forecasts, and indicators. In this blog, we will discuss the current state of the EURUSD chart and identify potential rejection or resistance areas for trading opportunities.

As we observe the charts, EURUSD has been in an upward trend for the past week. The price opened today at $1.12093, and it is currently trading at $1.12400. Now, let’s delve into the details and explore the potential rejection or resistance levels.

EURUSD in an upward trend.

Potential Rejection or Support/Resistance Areas for EURUSD

Based on the current scenario, there are two crucial levels from where EURUSD may face rejection or experience a downfall.

Support LevelResistance Levels
$1.11200$1.12500 and $1.13150

Trading Plan For EURUSD

Considering the upward trend of EURUSD over the past week, we will focus on seeking short-selling opportunities at the resistance levels mentioned above.

Plan for Short Selling

If prices reach the level of $1.12500, we will enter into a short position, taking into account the risk based on your capital. If the trend continues towards $1.13150, we will again enter into a short position.

EURUSD Trading Plan
EURUSD Trading Plan Credit: Tradingview

Risk Management

When trading in forex, it is crucial to consider risk management before entering any trade. Proper risk management is as important as having a well-defined trading plan. For more details on risk management and position sizing, I recommend reading my article on the topic.

also read: Risk management in the Forex market

Additional Resources

To enhance your trading skills, I suggest watching a video on how to trade based on support and resistance levels. This will provide valuable insights into identifying profitable trading opportunities.

Furthermore, learning how to trade on the rejection zone can also be beneficial for your trading strategy. Incorporating this technique into your analysis can help improve your decision-making process.

How to trade Support and Resistance – Video credit: Riley Coleman

Conclusion

In conclusion, staying updated with market analysis for EURUSD on TradingView is essential for making informed trading decisions. By understanding the current trends, resistance levels, and support levels, you can develop a trading plan that aligns with your risk appetite and goals. Remember to prioritize risk management and continuously educate yourself to enhance your trading skills.

Disclaimer:

Trading in the financial markets carries a certain level of risk. The information provided in this blog post is for educational purposes only and should not be considered as financial advice. Always do your own research and consult with a professional advisor before making any investment decisions.

website: theforexinsights.com

TAGS : #XAUUSD #TRADINGVIEW #EURUSD #FOREX


The information provided here has been prepared by TheForexInsights’ team of analysts. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and do not reflect the opinions of TheForexInsights.

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