EURUSD hit today the 1day MA200 for the first time since August 2nd and its 1day RSI turned oversold for the first time since April 16th.
That is a very bearish development but market exhaustion and the need for a relief rally may hit the price just like it did on the August 25th 1day MA200 test.
We remain bearish as per our last trading plan but any rebound near the 1day MA50 will be an opportunity to open additional sells.
The target is intact at 1.07700 (Fibonacci 0.618).
Previous chart:
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That is a very bearish development but market exhaustion and the need for a relief rally may hit the price just like it did on the August 25th 1day MA200 test.
We remain bearish as per our last trading plan but any rebound near the 1day MA50 will be an opportunity to open additional sells.
The target is intact at 1.07700 (Fibonacci 0.618).
Previous chart:
Follow us, like the idea and leave a comment below!!
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TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.