The EURUSD pair is extending the bearish trend firmly within the borders of the 2-month Channel Down hitting in the process last week's target:
As you see, it failed to break above the 4H MA100 (green trend-line) so we didn't pursue Target 2. We are in a similar situation now, with the price again at the bottom of the Channel Down, while the 4H RSI is about to hit the oversold territory (sub 30.00). We take it again as a buy opportunity, targeting the 4H MA50 (blue trend-line) at 1.06300. As before, if the price breaks above the 4H MA100, we will re-buy and target 1.07200 (+1.44% rise).
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As you see, it failed to break above the 4H MA100 (green trend-line) so we didn't pursue Target 2. We are in a similar situation now, with the price again at the bottom of the Channel Down, while the 4H RSI is about to hit the oversold territory (sub 30.00). We take it again as a buy opportunity, targeting the 4H MA50 (blue trend-line) at 1.06300. As before, if the price breaks above the 4H MA100, we will re-buy and target 1.07200 (+1.44% rise).
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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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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
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As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.