On Wednesday the Fed will announce the new rate and the anticipation of this event largely explains the recent consolidation of EURUSD.
Since the November 22nd bottom, it has turned sideways around the MA50 (4h), failing to cross above the MA200 (4h), which is the main Resistance of the bearish wave since October 1st.
The July-October 2023 bearish wave was under a similar consolidation but eventually broke to the upside and hit the 0.618 Fibonacci level.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.08700 (the 0.618 Fibonacci level).
Tips:
1. The RSI (4h) has been rising inside a Channel Up, which is a bullish divergence also very much like the October 2023 bottom.
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Since the November 22nd bottom, it has turned sideways around the MA50 (4h), failing to cross above the MA200 (4h), which is the main Resistance of the bearish wave since October 1st.
The July-October 2023 bearish wave was under a similar consolidation but eventually broke to the upside and hit the 0.618 Fibonacci level.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.08700 (the 0.618 Fibonacci level).
Tips:
1. The RSI (4h) has been rising inside a Channel Up, which is a bullish divergence also very much like the October 2023 bottom.
Please like, follow and comment!!
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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.
Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
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.