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Friday, 26 February 2016 11:29

EUR/UP! - Bullish set up on Euro Futures | Bullish set up on EUR/USD

After a pullback to test the ascending 60 days ema, we might expect a rise of March 2016 Euro Futures (or EUR/USD if you are a forex trader) in the short term.

Patterns and Volume Spread Analysis

Looking at the daily chart, we can see that the price is testing the 60 days ema since February 22, facing a channel support
The 24 February candle, according to the Volume Spread Analysis, can be defined as stopping volume and represents a strong trend reversal setup.

euro channel stopping volume bullish pullback trading for purpose

Market Profile

Analyzing the Market Profile chart (which we set at 30 minutes for a period of 20 days), we notice the 'point of control' level around 1.1138 and this level could be considered a possible profit target. 

euro market profile point of control bullish trading for purpose

Remember: this is not a trade solicitation and, if you decide to trade, you do it at your own responsibility.

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