EUR/USD analysis on 19/3/2024
On the D1 timeframe: the main trend is downward. However, at the current moment, the RSI indicator has entered the oversold zone, meaning that there is a chance for a reversal here.
On the H4 timeframe: After a decline, the RSI indicator has also entered the oversold zone, and at the same time, the RSI indicator is showing signs of convergence.
At this point, the price has risen and closed above the EMA30 line (orange color). This indicates a reversal of the trend.
Personal view: BUY
Entry: 1.06571 or current price
SL: 1.05869 (below the lowest wick of the candle)
TP: 1.7553
#tradeinpeace
On the D1 timeframe: the main trend is downward. However, at the current moment, the RSI indicator has entered the oversold zone, meaning that there is a chance for a reversal here.
On the H4 timeframe: After a decline, the RSI indicator has also entered the oversold zone, and at the same time, the RSI indicator is showing signs of convergence.
At this point, the price has risen and closed above the EMA30 line (orange color). This indicates a reversal of the trend.
Personal view: BUY
Entry: 1.06571 or current price
SL: 1.05869 (below the lowest wick of the candle)
TP: 1.7553
#tradeinpeace