EURUSD: Sell opportunity within the 1D Channel Down.

The pair continues to trade inside the 1D Channel Down (RSI = 44.807, MACD = -0.001, Highs/Lows = 0.0000) which last week priced its Lower High at 1.1420 as predicted on this call (). Technically it should look for its Lower Low now which on sole channel measurements is located at 1.11900. However it will face again the strong 1W support at 1.1215, presented by the previous Lower Low (November 12th) on the 1W Channel Down. We are going short and because of that support we will look to take the profit before that level. TP = 1.1250. If the Channel breaks upwards we will be prepared to short again on at 1.15000 (1W Sell Zone).

See below our previous studies successfully calling the Highs and Lows on this 1D Channel Down:




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

Comments and likes are greatly appreciated.