TradingView
InvestingScope
Feb 25, 2019 8:16 AM

EURUSD: Some upside left on the 1D Channel Down. Long

FX:EURUSD240
Euro Fx/U.S. DollarFXCM

Description

⋅
The pair has shown considerable strength since the 1.1235 bottom and as expected (
) rebounded since the 1D Channel Down made its Lower Low (RSI = 48.749, Highs/Lows = 0.0000). The price is currently trading within a 4H Channel Up (RSI = 55.931) having completed its own Higher Low (Highs/Lows @ 0.0000) and its Higher High is limited to 1.1400 - 1.14200. The 1D Channel Down Lower High has a maximum technical extension to 1.14400. Based on all this we remain bullish but revise our target downwards, TP = 1.14000.


See our previous study on calling the 1.1235 bottom below:







** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.
Trend AnalysisChart PatternsTechnical IndicatorsEURUSDEURUSDForexCurrenciescurrencyeurodollarDJ FXCM Index
Comments
Jespervz
⋅
Agree with you on this pair, EUR/USD has been trading between those two ranges for some months now and doesn't seem to be picking a direction just yet
InvestingScope
⋅
@Jespervz, Correct. Just a side-note, for someone who is a long term investors, shorting every high is better suited though.
More