EURUSD Hit the 1day MA50 after almost 1 month.
EURUSD reached today the 1day MA50 for the first time since July 6th.
At the same time it hit the Rising Support that is making the Higher Lows since the May 31st bottom.
If the 1day candle closes above that Support level, then this is a buy opportunity.
If it closes below, wait until it hits and closes a 1day candle above the 0.618 Fibonacci level, otherwise we will inevitably test the 1day MA200 which has been intact since November 30th 2022.
This expectation is based on the late 2022 early 2023 fractal. Its best buy entry emerged when the 1day RSI made a Lower Low under 35.00 after the 1day MA50 break. Have that as an additional buy condition.
In both cases the Target is the 1.12750 High.
Previous chart:
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At the same time it hit the Rising Support that is making the Higher Lows since the May 31st bottom.
If the 1day candle closes above that Support level, then this is a buy opportunity.
If it closes below, wait until it hits and closes a 1day candle above the 0.618 Fibonacci level, otherwise we will inevitably test the 1day MA200 which has been intact since November 30th 2022.
This expectation is based on the late 2022 early 2023 fractal. Its best buy entry emerged when the 1day RSI made a Lower Low under 35.00 after the 1day MA50 break. Have that as an additional buy condition.
In both cases the Target is the 1.12750 High.
Previous chart:
Follow us, like the idea and leave a comment below!!
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