The EURUSD pair will most likely close the day below the MA50 1D for the first time since November 3rd. Parallel to that it is possible to close below this three month Channel Up structure. This sequence gains bearish momentum which can only be negated with a break above the MA50 4H.
Trading Plan: 1. Sell if the price closes below the MA50 1D. 2. Buy if it closes above the MA50 4H.
Targets: 1. 1.10800 (representing a +3.90% rise). 2. 1.0500 (Support 1) and if the price fails to break the dotted Channel Down, extension to 1.03350 (MA200 1D above the Support 2).
Tips: It is always a short term buy for quick profit when the RSI breaks above the MA (white line).