EURUSD
Looks oversold and can make quick 20-25 pips profit.
- Closing the day up, the EUR/USD pair establish itself above the 23.6% retracement of its latest bearish run
- Although the lower low daily basis has somehow increased the risk of a new leg lower for the upcoming days
- The pair has been steadily rejected from advances beyond the 1.0600 figure. However the price has recovered above all of its moving averages that anyway have turned horizontal in the 4 hours chart - a clear indication of the absence of directional strength
- While the 20 and the 200 SMAs, stand quite close to the mentioned Fibonacci level.
- Technical indicators indicates an oversold and due for quick profit gain.
As usual I'm in for 20-25 pip profit. Ride with me!
Trade closed manually:
Target reached and closed. Hope you guys took this trade!
