EURRON
EURRON: 1M Resistance rejection. Short opportunity.The pair is on a strong 1D uptrend since it found support in September on the 1D MA50 and is close to the overbought zone (RSI = 71.170). Yesterday it peaked at 75.000 which is where it was rejected on September 20th. Moreover yesterday's rejection took place on the 1M 4.7825 Resistance, which is holding since late January 2019. As a result we are expecting a strong pull back to the 4.7500 Symmetrical Support.
** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **
Comments and likes are greatly appreciated.
EUR/RON ALL TIME NEW HIGHAs you can see on the monthly chart, the romanian currency RON, hit the new all time high.
Despide the country”s GDP growth and salary increases, the currency is only going down.
The corrupt government dose”t move a stick to stop this outrageous depreciation.
Buy in: 4.46850
Target: 4.4705
Long term sideways movement. Short near the Resistance.EURRON is on a very long term 1D Rectangle pattern (RSI = 48.105, STOCH = 47.119, Williams = -47.804, CCI = -46.8286, Highs/Lows = 000, all neutral) at 4.6135 - 4.6800, trading sideways since mid-November 2017. You can work withing its Support/ Resistance levels (buy low, sell high) as long as they are not crossed. The next technical TP = 4.6303.