The EURUSD pair has almost hit the sell target that we set on last week's analysis (see chart below):
This is an update to that idea as the price is now not only approaching the bottom of the 9 month Channel Up but also the 1D MA200 (orange trend-line), having the 1D MA50 (blue trend-line) as a Resistance.
Being only a few pips before completing the -4.11% decline of the previous Lower Low correction in May, it is worth booking any sell profit and turn bullish again for the long-term. If you want to wait some more however, the last buy condition will be fulfilled when/ if the 1D RSI hits the 33.00 Support, where it rebounded on both the May 31 and February 24 lows.
As far as our target is concerned, we aim at the 0.786 Fibonacci retracement level - Internal Higher Highs Zone at 1.14000. That would also complete +5.50% rise, similar to April's Higher High.
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This is an update to that idea as the price is now not only approaching the bottom of the 9 month Channel Up but also the 1D MA200 (orange trend-line), having the 1D MA50 (blue trend-line) as a Resistance.
Being only a few pips before completing the -4.11% decline of the previous Lower Low correction in May, it is worth booking any sell profit and turn bullish again for the long-term. If you want to wait some more however, the last buy condition will be fulfilled when/ if the 1D RSI hits the 33.00 Support, where it rebounded on both the May 31 and February 24 lows.
As far as our target is concerned, we aim at the 0.786 Fibonacci retracement level - Internal Higher Highs Zone at 1.14000. That would also complete +5.50% rise, similar to April's Higher High.
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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.