EURUSD: Trading plan after the Fed
The great trading range that EURUSD is giving continues as the 4H MA50 held again as Support and following the lower than expected U.S. CPI, the price finally broke above the 1.06180 Resistance (June 27th High) and targets long-term the 1.07870 May 30 High. 4H is on normal bullish technicals (RSI = 67.702, MACD = 0.003, ADX = 50.538) but the 1D RSI (70.841) just broke into the overbought zone for the first time since December 30 2020 (!).
That confirms the trend shift to long-term bullish but calls for a necessary relief pull-back first towards the 1D MA50 (now at 1.01408 and rising). First tight buy on the 4H MA50 and if it closes below take the small loss and go after the 4H MA200 (1.02826 and rising). Strongest buy for the long term is near the 1D MA50.
That confirms the trend shift to long-term bullish but calls for a necessary relief pull-back first towards the 1D MA50 (now at 1.01408 and rising). First tight buy on the 4H MA50 and if it closes below take the small loss and go after the 4H MA200 (1.02826 and rising). Strongest buy for the long term is near the 1D MA50.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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