TheLaboratory

EURUSD may revisit 1.23 lvl : confirmed by several trading tools

Long
TheLaboratory Updated   
FX:EURUSD   Euro / U.S. Dollar
We can observe that a wedge was formed , broken up and then retested but price rejected it (as well as the .786 fib lvl)


also GBPUSD keep forming higher lows and higher highs
while EURUSD is in a downtrend
also sterling have retested is ATH while euro
keep stuck at bottom

this latence between the two correlated pairs may confirm that euros will probably form a new wave going up

therefore we can enter long right now and aim for 1:2 and higher OR finding a better setup within lower TF. enjoying the next ride to 1.23
SL below the doji in both cases
Comment:
V shape validating the higher TF setup

Comment:
took half profit at this resistance

letting the rest run
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.