EURUSD: Long break-out is highly expected!
Hi, Traders ! Monfex is at your service !
We estimate there is a high EUR potential to break-out of the wedge/long-term descending trend channel in the short-term.
* EURUSD keeps trading inside the descending trend channel/wedge, but the price is lining up for an upward break-out.
* The pair shows a very promising dynamic - steadily holding above the 21 Daily EMA, which is now turned North.
* Bullish optimism is preserved on both time-frames, 1D and H4, especially after the minor Support at 1.1080 was maintained.
* The correction had stopped exactly where we projected:
* Both indicators, RSI & MACD, are progressing in accordance with the bullish tendency.
* In contrast, the Bears could turn the tables only if the price closes below the 21 Daily EMA, which is an unlikely scenario for now.
Active trade signal
Buy @1.1080-1.1120.
Longer-term Target: 1.1400.
Nearest Target: 1.1200.
Stop-loss: 1.1049.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
We estimate there is a high EUR potential to break-out of the wedge/long-term descending trend channel in the short-term.
* EURUSD keeps trading inside the descending trend channel/wedge, but the price is lining up for an upward break-out.
* The pair shows a very promising dynamic - steadily holding above the 21 Daily EMA, which is now turned North.
* Bullish optimism is preserved on both time-frames, 1D and H4, especially after the minor Support at 1.1080 was maintained.
* The correction had stopped exactly where we projected:
* Both indicators, RSI & MACD, are progressing in accordance with the bullish tendency.
* In contrast, the Bears could turn the tables only if the price closes below the 21 Daily EMA, which is an unlikely scenario for now.
Active trade signal
Buy @1.1080-1.1120.
Longer-term Target: 1.1400.
Nearest Target: 1.1200.
Stop-loss: 1.1049.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
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