EURUSD possible correction start at 1.0550 level?
Updated
The EURUSD is in an extended down move and getting close to previous significant event area's.
At around 1.05500 there is a good chance that we will see a correction move up to the 100 EMA.
Once price reaches the level, it might be good to look on the 1 hour chart for a 123 reversal pattern for trade confirmation to the upside.
At around 1.05500 there is a good chance that we will see a correction move up to the 100 EMA.
Once price reaches the level, it might be good to look on the 1 hour chart for a 123 reversal pattern for trade confirmation to the upside.
Note
Target Event Area has been reached and price shows first up candle in days.I am monitoring the price now on the 1H chart and wait for a 123 reversal pattern for a long entry confirmation.
Note
123 reversal pattern on 1H basis confirmed and entry in long direction would be profitable.
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