EURUSD 80 PIP BUY

4 Nov 2020

EURUSD showing great potential for a 80 PIP Rise. We currently have a decending triangle forming on the 4hr chart with a strong level of support as well as resistance. Due to the recent reversal of the support zone i am looking for a buy to the upside of around 80 PIPs to once again test the resistance. The descending triangle has been formed shortly after a strong bullish momentum so i beleive it will break above this and further rise in that direction, therefore i will look for further entries involving this in the future. Price is also sitting around the 200 EMA which i think will break very soon which will help in our favour. Furthermore we have recently come out of an oversold position on the RSI(10) along the line of support which has also been seen in previous tests. TP is set at 80 pips and SL set at 35 pips !