EURUSD: Seeking the new Support. First buy attempt.
EURUSD is having a strong technical selling sequence following the HH rejection (July 18th) at the top of the long term Channel Up pattern. The 1D timeframe turned neutral (RSI = 45.045, MACD = 0.005, ADX = 28.669) and as the price is near the HL trendline, it justifies a first buy attempt. Our sell target and buy entry from last week (chart at the end of the idea) was 1.09800 anyway and the target the top of the Channel Up (TP = 1.13250). It is possible for the market to seek the 1D MA50 too (1.09200) but if it closes a candle under it, then it should extend the selling to the 1D MA200 (TP = 1.08000), where it will turn into a long term buy opportunity again.
Prior idea:
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