EURUSD is testing the a cluster of support , the 50-days SMA, the 50 percent retracement for the bullish wave(1.3467-1.3966), in addition the 1.271 extension for the latest bullish bounce. We might see a pullback to 1.3760/65 resistance level supported by a slight bullish divergence on RSI as well. But overall, the downside remains favored, i will look for bearish signals such as pin bar if we reach that area for shorts. Alternatively, if we directly break 1.3710 level, I will be looking for more downside, at-least towards 1.3660-1.3640.
Note: a break above 1.3765 may call for an extended bullish rebound, probably towards 1.3840 resistance.
My previous Trade setup is still active for the second half target
Good luck, join me at:
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Note: a break above 1.3765 may call for an extended bullish rebound, probably towards 1.3840 resistance.
My previous Trade setup is still active for the second half target
Good luck, join me at:
twitter.com/thefxchannel
thefxchannel.com