OANDA:EURUSD   Euro / U.S. Dollar

Looks oversold and taking a long trade... make quick 20-25 pips profit.

- EURUSD pair remains bullish technically, although the daily consolidation has made technical indicators lose upward momentum.

- Nevertheless the price is above a bullish 20 SMA, whilst the 100 SMA advanced to meet the 200 SMA, both around 1.0550 now in 4hr chart.

- A major Fibonacci resistance comes at 1.0710, as the level stands for the 38.2% retracement of the November/January slide with renewed buying interest above it opening doors for an advance towards the 1.0800 region.

- Our indicators pointing to an long entry with short pips

As usual 20-25 pips profit target. Ride with me!

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.