EURUSD: Waiting for an upside breakout for Long Entry
EURUSD is showing signs of reversal after last week drop. As we can see in the hourly chart price has stalled and formed a sideways formation at 1.1430-50 area, while RSI has already formed an uptrend.
In the Daily chart below we can see that the trendline that joins the major lows during the downtrend from June is being tested again.
We will ise an hourly close above 1.1470 for entry setting the stops below Friday's lows.
In the Daily chart below we can see that the trendline that joins the major lows during the downtrend from June is being tested again.
We will ise an hourly close above 1.1470 for entry setting the stops below Friday's lows.