The EURUSD pair finally hit the 1D MA200 (orange trend-line) for the first time in 9 months (since November 30 2022). That is a direct hit at the bottom (Higher Lows trend-line) of the 2023 Channel Up, which is so far holding. Perhaps the strongest buy signal that we could see also emerged, as the 1D RSI hit the 33.00 Support, which formed the bottoms of May 31 and February 24.
Based on all the above dynamics, this is the strongest buy opportunity on EURUSD on a 3 month horizon. It will be confirmed after it closes above the 4H MA200 (green trend-line) but the Risk/ Reward ratio is good enough for a buy entry now. Our first Target is the 0.786 Fibonacci Channel level at 1.13000 and second the 1.14000 (would complete a +6.00% rise from the current bottom level).
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Based on all the above dynamics, this is the strongest buy opportunity on EURUSD on a 3 month horizon. It will be confirmed after it closes above the 4H MA200 (green trend-line) but the Risk/ Reward ratio is good enough for a buy entry now. Our first Target is the 0.786 Fibonacci Channel level at 1.13000 and second the 1.14000 (would complete a +6.00% rise from the current bottom level).
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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 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.