Long
EURN buying opportunity
EURN has been respecting an upward trendline for quite a long time, with a recent bounce of it once again (red circles).
Furthermore the downward trend has been broken recently, which is another good sign.
And don't forget we still have a gap to fill at 8.885, plus fundamentals are good with a target of EUR 13.50.
So overall looking bullish for now.
So what needs to happen now is a retest of the downward trendline and/or the most recent horizontal support. This will then provide the foundation for a new uptrend and present a good buying opportunity.
Furthermore the downward trend has been broken recently, which is another good sign.
And don't forget we still have a gap to fill at 8.885, plus fundamentals are good with a target of EUR 13.50.
So overall looking bullish for now.
So what needs to happen now is a retest of the downward trendline and/or the most recent horizontal support. This will then provide the foundation for a new uptrend and present a good buying opportunity.
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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.
Related publications
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.