EUR/USD Technical Analysis

• 88.6 Fib bounce
• Good R:R
• M H5/Q H4 is the target

Weekly Chart EUR/USD

(Click on image to enlarge)

• Swing 1
• Swing high
• Bounce zone
• Target

Weekly timeframe is usually used for analysis and eventual prediction of the move. However, the weekly timeframe can also be used for trading as any other time frame. The difference is that trades will take a longer time to develop. I have noticed a chance for a good r:r trade as long as the price is kept above 1.0900-1.1000 zone. 88.6 bounce could be targeting 1.1325, 1.1413 and 1.1610. Everything is shown in the chart as the price progresses and my account is already 30 % in profits due to running trades.