EURUSD The downside is far from over
EURUSD formed a Death Cross (4h) and according to the previous one (February 14th) there is more downside to come.
The pattern is still a Channel Up on the long term but the bottom can be as low as 1.06000.
Trading Plan:
1. Sell on the current market price.
2. Buy only if the price crosses above the MA200 (4h) again.
Targets:
1. 1.06000 (Fibonacci 0.9).
2. 1.11000 (top of Channel Up).
Tips:
1. The RSI (4h) is on a Channel Down, same as the previous correction. If the RSI rises now near the top of the Channel, the next time it hits the 30.00 oversold level gain, might time with the new low of the market, perfect for a long term buy.
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Notes:
Past trading plan:
The pattern is still a Channel Up on the long term but the bottom can be as low as 1.06000.
Trading Plan:
1. Sell on the current market price.
2. Buy only if the price crosses above the MA200 (4h) again.
Targets:
1. 1.06000 (Fibonacci 0.9).
2. 1.11000 (top of Channel Up).
Tips:
1. The RSI (4h) is on a Channel Down, same as the previous correction. If the RSI rises now near the top of the Channel, the next time it hits the 30.00 oversold level gain, might time with the new low of the market, perfect for a long term buy.
Please like, follow and comment!!
Notes:
Past trading plan:
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