The EURUSD pair is still trading inside the long-term Channel Up pattern we identified more than 2 months ago and bought the bottom (see chart below):
With the recent price action however, we shift our attention to a shorter term Channel Up due to the possibility of extending the recent selling. The pair is basically trapped within the 1D MA50 (blue trend-line) and 1D MA100 (green trend-line) for 5 straight 1D candles. We will trade the break-out, depending which direction the 1D candle will close at.
A 1D candle closing above the 1D MA50, will be bullish targeting the top of the Channel Up at 1.11350. A 1D candle closing below the 1D MA100 will be bearish, targeting 1.0700 at least.
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With the recent price action however, we shift our attention to a shorter term Channel Up due to the possibility of extending the recent selling. The pair is basically trapped within the 1D MA50 (blue trend-line) and 1D MA100 (green trend-line) for 5 straight 1D candles. We will trade the break-out, depending which direction the 1D candle will close at.
A 1D candle closing above the 1D MA50, will be bullish targeting the top of the Channel Up at 1.11350. A 1D candle closing below the 1D MA100 will be bearish, targeting 1.0700 at least.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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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.