EURUSD short term relief rebound is expected.

10月17日

EURUSD is trading inside a Channel Down on the (1h) time frame.
The price hit its bottom and is consolidating, being oversold on the RSI (1h).
This consolidation usually leads to a short term rebound to the 0.5 Fib and MA50 (1h).

Trading Plan:
1. Buy on the current market price.

Targets:
1. 1.08550 (the 0.5 Fib and potential contact with the MA50 (1h)).

Tips:
1. The RSI (1h) has formed the exact same sequence it did on October 10th. That was also a bottom that led to a 0.5 Fib/ MA50 (1d) test.

Please like, follow and comment!!

Notes:
Past trading plan: