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FxWirePro
Oct 13, 2023 11:27 AM

EURUSD- Watch out for 1.04800 Short

Euro Fx/U.S. DollarFXCM

Description

EURUSD took support near 1.04800 after US Non-farm payroll data. The pair recovered to 1.06396 (38.2% fib 1.09454 and 1.04482) and showed a minor sell-off due to geopolitical tension between Palestine and Israel. It is holding well below 21 and 55 EMA (Short term) and 200 EMA (long-term) in the 4-hour and daily chart.

Any breach below 1.04800 confirms a bearish continuation and a dip to 1.03950/1.03299 is possible.

It is good to sell below 1.04800 with SL around 1.0530 for the TP of 1.03950/1.03600.
Comments
JoeChampion
Nice!
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