EURUSD formed a Golden Cross onthe 4H time-frame (4H MA50 crossing above the 4H MA200). Trading within a short-term Channel Up (dashed trend-lines) this could be quite a development ahead of the Nonfarm Payrolls as last time a similar combination of patterns took place, was on April 15. That sequence extended the rise after the Golden Cross and the 4H MA50 (blue trend-line) supported the trend until just over the 0.618 Fibonacci retracement level from the previous top (Lower High) of the long-term Channel Down (blue channel, zoom out to see it).
At the moment the 0.618 Fib is at 1.20320. That is my medium-term target. See the longer-term outlook on 1D on the buy signal I posted last week:
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At the moment the 0.618 Fib is at 1.20320. That is my medium-term target. See the longer-term outlook on 1D on the buy signal I posted last week:
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> v184
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.