EURUSD: Oversold on 1D but still bearish long-term.

FX_IDC:EURUSD   Euro / U.S. Dollar
EURUSD turned oversold today on its 1D technical outlook (RSI = 29.517, MACD = -0.004, ADX = 31.573) as it failed to sustain the rebound during the early session. The long term pattern is a Channel Down since the start of the year and this is the second bearish wave for a LL. The 1D MACD is on the second Bearish Cross inside 30 days and even though a short term rebound might be possible, we expect a test of the Channel Down's bottom by the end of the month (TP = 1.05550). That would be on a perfect -4.00% symmetry with the decline of the previous bearish wave.

See how our prior idea has worked out:

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##


Over 65% accuracy on Private Signals Channel.

Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.

Free Channel:

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.