Long $EURUSD into major support levels for FX:EURUSD by mortdiggiddy

Long $EURUSD into major support levels

EURUSD counter trade could be upon us very soon back to the 50 DMA. This seems like a capitulation move into support. DXY is showing very similar.

I am looking at the 50 BBs support after a large expansion, as well as the midline of the parallel channel formed for 2020.

Note

This seems like a pretty standard correction. Again if the below area holds (along with the Weekly ATR Stop) I believe the target will be a backtest of the 50 DMA.

Note

DXY shows similar setup (as expected)

Note

First target approaches here. Final target remains the 50 DMA backtest.

Trade closed: target reached

Trade complete on D ATR Stop Backtest + 50 DMA 👍🏻

mortdiggiddy

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