In my previous EURUSD analysis, I told you about selling at 1.1935 with 1.1750 as TP( Idea attached below). As you can see, EURUSD moved exactly how I had predicted.
Currently, price is below the 100-period EMA on the 4H chart, which is a negative sign for the buyers.
Buyers must wait for a strong bullish candle and for price to return above the 100-period EMA before buying.
However, 1.1700 level is an important demand level and price can drop to this level as well before the uptrend resumes.
A strong bearish break of the 1.17 level will imply that the trend has reversed.
Currently, price is below the 100-period EMA on the 4H chart, which is a negative sign for the buyers.
Buyers must wait for a strong bullish candle and for price to return above the 100-period EMA before buying.
However, 1.1700 level is an important demand level and price can drop to this level as well before the uptrend resumes.
A strong bearish break of the 1.17 level will imply that the trend has reversed.
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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.