EURUSD hit today its 1D MA50 (blue trend-line) and so far it held. Even though the previous rejection on the 1.1910 Resistance was a bearish sign, as long as 1D candles close above the 1D MA50, there seems to be a stronger case for a bullish reversal within the long-term Channel, similar to the April-May rebound.
If you are trading it on the short-term, you may use 1.19100 as break-out confirmation and aim for the next natural Resistance, the 1D MA200 (orange trend-line), which happens to sit currently on the long-term Pivot Zone. Long-term traders may target the 0.786 Fibonacci level.
On the other hand, if the ECB tomorrow delivers a bearish blow to EUR and closes below the 1D MA50, the 1.16600 Support (1) will be the natural extension for short-term traders.
** 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 ==> GJMRealEstate
--------------------------------------------------------------------------------------------------------
If you are trading it on the short-term, you may use 1.19100 as break-out confirmation and aim for the next natural Resistance, the 1D MA200 (orange trend-line), which happens to sit currently on the long-term Pivot Zone. Long-term traders may target the 0.786 Fibonacci level.
On the other hand, if the ECB tomorrow delivers a bearish blow to EUR and closes below the 1D MA50, the 1.16600 Support (1) will be the natural extension for short-term traders.
** 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 ==> GJMRealEstate
--------------------------------------------------------------------------------------------------------
👑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.
👑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.