EURUSD: Selling over the 4H MA50 is the best monthly signal.
EURUSD is trading inside a Channel Down ever since it made a High on December 28th 2023 with the 1D technical outlook steadily bearish (RSI = 39.870, MACD = -0.004, ADX = 22.645). After the price crossed under the 4H MA50 on January 2nd 2024, every time it recovered over it, the most optimal sell opportunity emerged for the short term. As long as the 4H MA200 holds, being the current Resistance at the top of the Channel Down, we will sell again once the price breaks and closes over the 4H MA50. Our modest target is -1.40% from a +1.00% rebound extension (TP = 1.06900). Watch also for any rejections on the RSI's Sell or Buy Zone.
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