The EURUSD pair has been trading within a Channel Down pattern since the July 27 High. So far it has only made two Lower Highs touching its top and we may be starting the sequence that might complete the 3rd.
On the short-term we expect the 4H MA50 (blue trend-line) to be tested and the target on our current buy is 1.0700. That is still below the Inner Lower Highs trend-line, similar to August's decline.
Beyond that, we will take a 2nd buy only if the price breaks above the 4H MA100 (green trend-line), in which case, we will target the top of the Channel Down and the 4H MA200 (orange trend-line) at 1.08000 (+1.65% bullish extension).
Note that the 4H MACD is close to completing a Bullish Cross.
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On the short-term we expect the 4H MA50 (blue trend-line) to be tested and the target on our current buy is 1.0700. That is still below the Inner Lower Highs trend-line, similar to August's decline.
Beyond that, we will take a 2nd buy only if the price breaks above the 4H MA100 (green trend-line), in which case, we will target the top of the Channel Down and the 4H MA200 (orange trend-line) at 1.08000 (+1.65% bullish extension).
Note that the 4H MACD is close to completing a Bullish Cross.
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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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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
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.