EURUSD Still inside the Channel Down but Bullish MACD weighs.
EURUSD has been quite profitable for us as of late (see chart at the bottom) as it delivered both the sell and bottom buy we wanted.
The price hit the top today and logically got rejected.
There is a Rising Resistance involved on the 0.618 Fibonacci level like on the August 30 Lower High.
As long as it doesn't close a 1day candle over the 0.618 Fibonacci, sell and target 1.05200.
If it does close over the 0.618 Fibonacci, then buy and target 1.07200 (course of 1day MA50 and Resistance A). The 1day MACD Buy Cross favors this case.
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The price hit the top today and logically got rejected.
There is a Rising Resistance involved on the 0.618 Fibonacci level like on the August 30 Lower High.
As long as it doesn't close a 1day candle over the 0.618 Fibonacci, sell and target 1.05200.
If it does close over the 0.618 Fibonacci, then buy and target 1.07200 (course of 1day MA50 and Resistance A). The 1day MACD Buy Cross favors this case.
Follow us, like the idea and leave a comment below!!
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