EUR/USD: History Repeats Itself
CHART ANALYSIS: On the 1 hour chart, price has closed below both the 50 and 200 EMA. On the 4 hour chart, price has closed below the 50 EMA as well. The last time this happened was mid March. As you can see, price dropped nearly 600 points before a solid bounce occurred. The next strong support is at 1.10. It will be a bumpy road, as there are two smaller ones that we have to break through first. A close below 1.10 will most likely lead us to 1.08.
- No risk, no reward.
- No risk, no reward.
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.