The EURUSD pair has been trading within a 2-month Channel Down, which following its 4H MA100 (green trend-line) rejection, seems to have technically formed the new Lower High.
Based on the previous Bearish Leg that started on a similar Lower High, expect the pair to target the 1.382 Fibonacci extension at 1.12200 within July. Notice also how the pattern has a very clear 4H RSI Resistance Zone, which has been the most effective Sell Signal.
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Based on the previous Bearish Leg that started on a similar Lower High, expect the pair to target the 1.382 Fibonacci extension at 1.12200 within July. Notice also how the pattern has a very clear 4H RSI Resistance Zone, which has been the most effective Sell Signal.
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
💰Join TradingShot Account Management | +20% monthly profit | Min. capital $30k | Excellent risk-management
💰Join TradingShot Account Management | +20% monthly profit | Min. capital $30k | Excellent risk-management
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.