Seeing what I can take from a technical aspect from crypto over to FX, trying and apply textbook knowledge correctly.
EUR/USD Long Opportunity
Given the way the price action is stuck in a channel travelling upwards and we are getting towards the bottom, after a divergence on the RSI- there is a chance for a strong move upwards through the current resistance back to the top of the channel to extend to the 1.618. The current wave pattern is a corrective wave on a smaller time scale, which projects us to go above the wedge/channel lines, meaning some more buying action could come on the confirmation of the breakout.
Overall still. Risk/reward of 3.7-3.8 range.
If the small downwards channel confirms there are still opportunities for a reversal.
I love not having to take into account bitcoin 1.58% on every trade.
This is NOT a buy OR a sell signal. I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable and you should never invest more than you're willing to lose.
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