Euro Long Opportunity
Long opportunity spotted on the Euro after pulling back and giving a bullish engulfing off the 50% retracement on the H4 timeframe . Monthly moving averages crossed bullish with price showing major exhaustion for the past 2 months; Last month closing with a long leg legged doji. Weekly showing similar exhaustion as well with ,multiple rejections from daily support and the weekly ascending trendline. Daily moving averages closing in on each other with 3 failed attempts to break daily support level. Moving averages also crossed bullish on the H4 timeframe. 1:1.5 risk to reward.
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