My second Finlogix analysis today is for EURUSD.

The Euro continues to weaken after the CPI figures came out favoring US dollar strength.

I lost another EURUSD trade. I am now 1 win and 7 losses.

https://www.finlogix.com/analysis/20240207/eurusd-intraday-analysis-and-trading-plan-for-february-7-2024

The psychological 1.07 still holding up and refusing to breakdown.

However, there was a strong rejection on the 1W FVG that resulted a fresh EURUSD monthly/weekly swing low.

A new bearish 4H FVG has been formed also after the December 2023 external swing lows broken down as a support. As per chart above, there’s a confirmed rejection candle.

At time of writing, price is consolidating in a range 1.07-1.0730 range. I am looking for a sell setup once price rallies near the bearish 4H FVG.

Been buying EURUSD in my last trades, this time I am going to sell it after a stronger Greenback is confirmed.

My sell entry is a re-test on December 2023 ESL. Once the 1.07 breaks down for good, the November 2023 pre-breakout consolidation area is my immediate take profit target.

The stop loss is marked on the bearish 4H FVG’s complete retracement.

Yearly Candle: Still a Big Red Candle with Short Tail Wick

Monthly Candle: Last check is a Red Long Upper Shadow now a Big Inverted Red Hammer

Weekly Candle: Previous close is a Long Legged Green Doji current is a Big Red Body

Daily Candle: Previous close is a Big Red Body current is a Small Green Doji

Exactly DXY’s opposite! EURUSD will continue its downtrend mid-term before a strong reversal.

Let’s see how this goes since I am already a Euro seller.

EURUSD Intraday Analysis and Trading Plan For February 14, 2024

Feb 14 2024

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