EU has found temporary support at 1.07855 and what we've now is looks like a double bottom, but we'll have to look at the resistance right above it. In order to go long, we'll need to wait for a clear breakout of the channel first. EU has been in a downtrend for long, it would be surprising to see this downtrend continues without any correction. let's see.
Note
Multiple tries to break out the resistance has ended with a failure. the most likely direction from here will be further downside.Note
We're now trading outside the channel, but momentum is weak. setting buy stop at 1.0870Note
^ that should've read. setting buy stop at 1.08170Note
Glad that I got busy and failed to place that buy stop the other day. EU isn't looking bullish at all. Every attempt to breakout is failing badly. I'm out looking at EU for now.
Order cancelled
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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.