In this Rally Academy daily market analysis, analyst Simon Alagbe examines the EUR/USD pair on the 4‑hour and 1‑hour charts. He notes a strong up‑trend bias (90% up, 10% down) and identifies a key resistance level that must be broken for a bullish move. To capture the potential breakout, he places a buy‑stop pending order at 1.08939 with a take‑profit at 1.09292 and a stop‑loss at 1.086, treating the broken resistance as new support. Anticipating a possible failure at the same level, he also sets a sell‑stop pending order at 1.08586 with a TP of 1.08226 and an SL at 1.08939, creating a dual‑direction strategy that profits whichever way the market reacts. Alagbe then reviews the day’s fundamental drivers – US advanced GDP (quarterly), advanced GDP price index, pending home sales, the FOMC statement, the federal funds rate decision, and the subsequent press conference – all scheduled throughout the trading day, highlighting additional volatility opportunities. The video serves as an instructional walkthrough of technical analysis, order placement, and fundamental context to guide traders in exploiting EUR/USD movements on that date.
Chapters
Good day, you are welcome to Rally Academy's daily market analysis. I am Alagbe Simon, a market analyst with Rally Academy. Today we'll be looking out for trading opportunity on EUR/USD. Okay, so this is the instrument EUR/USD on the 4-hour chart, and based on this strategy You can see the light here showing to us that there's a 90% strength on the uptrend and then about 10% on the downtrend. And observing, um, the resistance that is also in view on this instrument, even though everything is pointing to a buy on it, we still have to allow this instrument to trade above this resistance. Which is around this price level. So once you can wait till around this price level, that means it would have been able to trade above this resistance, and then we can make some money before the next resistance somewhere around here. Would have been able to make some money from there. So let's also look at the instruments on the hourly charts. Okay, so this is, um, EUR/USD also on the 1-hour chart, basically using the support and resistance. Instrument is currently surging higher and is approaching a proven resistance even on the 1-hour time frame. Uh, just as we saw on the 4-hour chart, everything still points to a buy, but it will not be too safe for us to have a buy at this point until it is able to move and close above this proven resistance that is in view. So we should be looking out for a buy trade somewhere around this price level, and then we should have our take profit before we get to this weak resistance on the hourly chart. So how do we go about that since price is currently trading below this price level? So that means for us to be able to take advantage of this envisaged move, we have to put in place a pending order. So we go to our new order, uh, we change the execution from instant execution to pending order. And because we're expecting it to push higher, get to this price, and then continue in that direction up until this price level, so we would be going for a buy stop. And then we have the price level 1.08939. So we have our buy stop at this price level, and then our TP is at this price level. This is take profit, 1.09292. And then our stop loss, our stop loss should be below this current resistance, which would have turned to a support, as at the time EUR/USD would have been able to push above what is currently a resistance. So we should be looking at a point below this, um, current resistance, which will later turn to a support at this price level also for our stop loss. That's 1.086. It's won. So we have everything in place now. So we click on place, and our pending trade is waiting for EUR/USD to move above the resistance and then get to this price level and then continue to trade higher. And by virtue of the presence of this resistance, just as what we have observed in previous times, that EUR/USD has gotten to this proven resistance point So if what has been happening here repeats itself also at this point, then EUR/USD might not surge above this resistance and we might have a retracement of this resistance. So in case that happens this time around also, we should be looking at having a sell trade around this price level and, um, with our take profit before this weak support somewhere here. So we have our sell from here with our TP here and then our stop loss at this entry point for the previous entry point for a buy. So let's quickly place that also. Go to new order. This time around we're expecting it to get here and then, um, push lower and then continue, um, this downward movement. So go for a sell stop this time around at price level 1.08586. So we have our TP at 1.08226, and then our stop loss at 1.08939. So we also have this also in place. So whichever direction EUR/USD takes around this proven resistance, if it goes above, it picks our buy trade and then give us money at this price level. And if it fails to overcome this proven resistance, then our sell trade will also give us some money on EUR/USD. So let's also quickly check on the fundamentals. Are there any important economic data expected today on this instrument? Okay, so this is Forex Factory, and, um, today we're expecting advanced GDP quarter by quarter as well as advanced GDP price index quarter by quarter from the US. By 1:30. We're expecting pendulum sales also month by month by 3 PM. And then the FOMC statements and then federal fund rate later on today, that's, uh, by 7 PM. And then we round everything up with the FOMC press conference by 7:30 PM today. So even on the fundamental front, there is a lot of opportunity make money off EUR/USD today. So let's utilize this opportunity. Let's make some money off EUR/USD.
