EURUSD update - 1.0814 target achieved
Updated
EURUSD has dropped 1,000 pips since my post in 2018 (see below).
The 2017 gap has finally closed. But, does the close of the gap enough to cause the 2 year downtrend to reverse?
To determine whether the downtrend can reverse or not, we might need to look at other clues, such as whether EURUSD can:
1. Close above 1.125
2. Close above weekly 50EMA
3. Test 1.04
4. Break above weekly RSI 53
Again, I am not here to predict. Instead, what I am trying to say is that If you are an inexperienced trader, you should focus on shorting unless EURUSD can do any of the 4 points above.
The 2017 gap has finally closed. But, does the close of the gap enough to cause the 2 year downtrend to reverse?
To determine whether the downtrend can reverse or not, we might need to look at other clues, such as whether EURUSD can:
1. Close above 1.125
2. Close above weekly 50EMA
3. Test 1.04
4. Break above weekly RSI 53
Again, I am not here to predict. Instead, what I am trying to say is that If you are an inexperienced trader, you should focus on shorting unless EURUSD can do any of the 4 points above.
Note
Critical moment for EURUSD this week. Can it close weekly above 1.125? Don't predict. We don't lose anything by waiting for market to give us clues.
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