Early in the American session, the euro is trading around 1.1687, above the 21 SMA and attempting to break the top of the downtrend channel formed since late June.
If bullish strength prevails and the euro consolidates above 1.1753, we could expect a new bullish cycle, and the euro could reach +1/8 Murray, located at 1.1840.
We should wait for confirmation to buy the euro if the price consolidates above 1.1753. Otherwise, we could expect a technical correction, which could reach the 200 EMA, located at 1.1575.
Technically, the RSI indicator is showing an oversold signal, so it is more likely that after any technical correction in the euro, it will always tend to rebound.
Our trading plan for the next few hours will be to continue sell the euro below 1.1749, with targets at 1.1635 and 1.1476 around 7/8 of Murray.
If bullish strength prevails and the euro consolidates above 1.1753, we could expect a new bullish cycle, and the euro could reach +1/8 Murray, located at 1.1840.
We should wait for confirmation to buy the euro if the price consolidates above 1.1753. Otherwise, we could expect a technical correction, which could reach the 200 EMA, located at 1.1575.
Technically, the RSI indicator is showing an oversold signal, so it is more likely that after any technical correction in the euro, it will always tend to rebound.
Our trading plan for the next few hours will be to continue sell the euro below 1.1749, with targets at 1.1635 and 1.1476 around 7/8 of Murray.
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DAILY FREE SIGNAL. FREE SIGNAL (95% accuracy) TP AND SL PROVIDED
In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
PUBLIC TELEGRAM CHANNEL
t.me/CEO_PREMIUM_ANALYSIS
In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
PUBLIC TELEGRAM CHANNEL
t.me/CEO_PREMIUM_ANALYSIS
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.