FXCM

EURUSD short-term bullish momentum | 17th Sep 2021

Long
FX:EURUSD   Euro / U.S. Dollar
Price is abiding the descending trendline resistance, we are spotting a overall bearish momentum on EURUSD , however we are expecting price to have a short-term bullish momentum towards the descending trendline resistance. We can expect price to push upwards to the take profit level in line with the 78.6% Fibonacci retracement in line with the descending the trendline resistance. Our short-term bullish bias is further supported by the RSI where it bounced off the support level .

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