For this setup im anticipating seeing EurUsd trade slightly lower into the key psychological level of 1.7500. In terms of price action we are seeing a descending wedge pattern that is coupled with very noticeable divergence with our RSI, giving us a sign that price is losing downward momentum and can likely expect to buy to the upside soon. From this level, i would want to see price buy all the way up to 1.2000 which is a major major psychological level for EurUsd. This Long idea is also supported by UsdJpy giving a nice high time frame short opportunity. Will be posting an idea to that soon.
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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.