With the EURUSD pair smashing through the 200-hour moving average and approaching key support level at label 2, there is a potential entry point to jump the trend if a break out occurs successfully.
Approaching the 1.12720 support line, without any sign of buyers consolidating the sheer force of sellers in the market, paying attention to your RSI indicator shouldn't hurt a bit.
Trade Wisely.
Approaching the 1.12720 support line, without any sign of buyers consolidating the sheer force of sellers in the market, paying attention to your RSI indicator shouldn't hurt a bit.
Trade Wisely.
Comment:
With a bounce off on support at 1.12791, while trading within the zone at 1.12875 and 1.12791, a breakout of support could be foreseen or a test of resistance by buyers at 23.6% fib level (price 1.12977), keep holding and for new entries wait for the test at the 23.6% fib level before considering opening a position.