- EURUSD seems to have broken bearish trend on August 4th.
- Has since created a bullish channel on the 1 hour chart.
- As of 11th August market close, price hit the bottom of the channel (1.09444) and proceeded to move sideways until 15 minute bearish channel was broken.
- RSI suggests EU is currently slightly over sold
- Moving averages have been edging closer to 200 MA
Summary: I am expecting EU to pivot from this low and proceed to create a new higher high.
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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.