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Popeson
Oct 10, 2023 9:53 AM

EURUSD 1D Analysis 

Euro Fx/U.S. DollarFXCM

Description

EURUSD has been moving in this bearish channel. I'm expecting a third touch on the upper trendline before we can expect a bearish continuation, that level also serves as a minor resistance on the smaller time frame.

The RSI is at 97 which also indicates that EURUSD is at the over sold level

But, if price breaks and closes above the upper band trendline, this fully signals a CHoCH and we can possibly expect an uptrend
Comments
alexapopa111
You meant over bought?
Popeson
@alexapopa111, You're right. That was a mistake, i always mix them up sometimes
alexapopa111
@Popeson, no Pb. I sure hope the market reacts like you predicted. :)
Popeson
@alexapopa111, Fingers crossed
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