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InvestingScope
Nov 19, 2019 11:57 AM

EURRON: 1M Resistance rejection. Short opportunity. Short

Euro / Romanian LeuFOREX.com

Description

The pair is on a strong 1D uptrend since it found support in September on the 1D MA50 and is close to the overbought zone (RSI = 71.170). Yesterday it peaked at 75.000 which is where it was rejected on September 20th. Moreover yesterday's rejection took place on the 1M 4.7825 Resistance, which is holding since late January 2019. As a result we are expecting a strong pull back to the 4.7500 Symmetrical Support.






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Comments
Sam111
Shorting euro against romanian leu never a good idea ...never trust romanian leu LOL
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