EURUSD is grounded inside the MA50 (1D) and MA100 (1D).
As long as the MA100 (1D) is holding, then the rise that started in September can be sustained long term in a similar way as the downtrend of 2021-2022 was.
The 2021-2022 Bear Cycle was confirmed after the MA50 (1D) crossed under the MA100 (1D). Similarly on December 7th we had the MA50 (1D) crossing over the MA100 (1D) to confirm the new Bull Cycle.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.2200 (close to the -0.786 Fibonacci extension, the same target the Bear Cycle had). This is a long term trade.
Tips:
1. The RSI (1D) is proportional to what it was at the start of the Bear Cycle.
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As long as the MA100 (1D) is holding, then the rise that started in September can be sustained long term in a similar way as the downtrend of 2021-2022 was.
The 2021-2022 Bear Cycle was confirmed after the MA50 (1D) crossed under the MA100 (1D). Similarly on December 7th we had the MA50 (1D) crossing over the MA100 (1D) to confirm the new Bull Cycle.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.2200 (close to the -0.786 Fibonacci extension, the same target the Bear Cycle had). This is a long term trade.
Tips:
1. The RSI (1D) is proportional to what it was at the start of the Bear Cycle.
Please like, follow and comment!!
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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.