EURUSD: Oversold RSI at the bottom of the Channel Down.
EURUSD reached the bottom of the six week Channel Down, completed a -2.70% decline such as the previous one and turned the 1H RSI extremly oversold (RSI = 17.487, MACD = -0.002, ADX = 31.778). This is a low risk chance to take a short term buy to the top of the Channel Down. Our target is, as with the previous rebound, the 0.618 Fibonacci level (TP = 1.08250).
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