The EURUSD pair quickly hit our 1.07250 Target, which we set on our most recent sell signal (March 27, see chart below):
Moving out to the 1D time-frame we can see that this is the Bearish Leg of the long-term Channel Down pattern that started at the beginning of the year and we are only halfway through it. Also the pair just completed the first Death Cross on the 1D time-frame since September 29 2023. That is a strong enough sell signal on its own.
As long as the price keeps closing 1D candles below the 1D MA50 (blue trend-line), we will remain bearish, expecting a new Lower Low on this 3-month Channel Down. The previous was formed on a -4.00% decline, so a repeat of that targets 1.05500.
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Moving out to the 1D time-frame we can see that this is the Bearish Leg of the long-term Channel Down pattern that started at the beginning of the year and we are only halfway through it. Also the pair just completed the first Death Cross on the 1D time-frame since September 29 2023. That is a strong enough sell signal on its own.
As long as the price keeps closing 1D candles below the 1D MA50 (blue trend-line), we will remain bearish, expecting a new Lower Low on this 3-month Channel Down. The previous was formed on a -4.00% decline, so a repeat of that targets 1.05500.
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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! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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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
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
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
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.