This is an update to last week's EURUSD outlook:
The pair did, as planned, hit the 1D MA100 target and (so far) has been rejected on the 1.14820 Resistance, making a Double Top. Even though this formation is bearish, since the 1D MA100 (green trend-line) broke for the first time since June 16 2021, we have a strong case of a long-term bullish reversal.
On the shorter term, as long as the 1D MA50 (blue trend-line) holds, the pair should target the top of the Megaphone and if that breaks, then the 1D MA200 (orange trend-line). Similarly, a 1D candle close below the 1D MA50, turns the short-term trend bearish towards the bottom of the Megaphone.
P.S. Keep a long-term perspective if you are an investor:
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The pair did, as planned, hit the 1D MA100 target and (so far) has been rejected on the 1.14820 Resistance, making a Double Top. Even though this formation is bearish, since the 1D MA100 (green trend-line) broke for the first time since June 16 2021, we have a strong case of a long-term bullish reversal.
On the shorter term, as long as the 1D MA50 (blue trend-line) holds, the pair should target the top of the Megaphone and if that breaks, then the 1D MA200 (orange trend-line). Similarly, a 1D candle close below the 1D MA50, turns the short-term trend bearish towards the bottom of the Megaphone.
P.S. Keep a long-term perspective if you are an investor:
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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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.