EURUSD: Sell opportunity if the 4H MA50 breaks.
EURUSD is trading on a 4h bullish channel (RSI = 54.676, MACD = 0.004, ADX = 36.647) and at the moment is on the critical Higher Low trend line (grey line). The move from the 1.0780 bottom was almost parabolic so if the trend line breaks and even the 4H MA50 (blue line) doesn't hold, then we are expecting a greater retrace to the 0.618 Fibonacci level. This is roughly where the 4h MA200 (orange line) will be. Notice also how the RSI is on Lower Lows (bearish divergence). Our Target is 1.10550.
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