EURUSD is testing the channel as seen in the chart and the important Sept-Nov lows of 2020. The move is likely to continue even lower as the momentum is strong enough. RSI is at extreme oversold levels making a new low as the most probable scenario.
We think that the 1.1600-10 area will hold the move for today. Although it is a risky trade we will at buy the 1.1600-10 area. We will set our stops below 1.1570 targeting 1.1630-40. There we will search for SELL positions.
We think that the 1.1600-10 area will hold the move for today. Although it is a risky trade we will at buy the 1.1600-10 area. We will set our stops below 1.1570 targeting 1.1630-40. There we will search for SELL positions.
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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.