My first Finlogix analysis starts with the EURUSD.

It’s Monday, that quiet time of the week where markets readying up in activity.

There is no major economic news this day so I will continue where I left.

Last Friday’s trade result has scored me another 9th loss. My lose streak continues!

https://www.finlogix.com/analysis/20240216/eurusd-intraday-analysis-and-trading-plan-for-february-16-2024

EURUSD’s re-assessment on its high timeframe candles:

Yearly Candle: Last check was a Red Candle with Short Tail Wick now a Red Shaven Head

Monthly Candle: Last check was a Red Spinning Top now a Red Doji

Weekly Candle: Last check was a Red Long Lower Shadow now a Long Legged Red Doji

Daily Candle: Friday close was a Long Legged Green Doji now a Green Shaven Bottom

Likely to continue the down trend after the current rally ends. EURUSD is still not yet out of the woods.

The liquidity under the lows of 1.07 paved way to where the price is currently trading. The weekly and daily candle closes’ suggest price recover but still within the bigger down trend.

On Friday, I used the daily chart to exploit the November 2023 pre-breakout consolidation as take profit target but the trade has already concluded.

The bearish 4H FVG holds up and became EURUSD’s immediate support. I’m not buying still. My bearish bias remains.

Before we say the down trend ends, until the 1.08 the main resistance remains to be cleared, it’s still too early to say that the bottom is in.

I switch back to the 4H. I am looking to see a break-out above 1.08 this week. I focus on a sell setup with 3.02 risk reward score if that happens with a tight stop loss level and take profit target back to the plotted 4H FVG area of support.

EURUSD Intraday Analysis and Trading Plan For February 19, 2024

Feb 19 2024

Stop Loss -0.17%

Holding time 0hr

1.08145

Entry price

1.08327

Stop loss price

1