EURUSD: First target hit. Channel Down intact.
EURUSD hit our first 1.08575 Target as set on our previous trade:
A new Channel Down has emerged on the 4H chart (RSI = 41.160, MACD = 0.000, ADX = 51.810) and is headed towards the 1.07850 symmetrical low (from March 25th). This is our new Target 1. The 1.06500 Target 2 is intact.
Notice how the Fibonacci lines are playing a pivotal role during both the earlier uptrend and the current downtrend. The March 27th High was done almost on the 0.618 Fibonacci (counting 1.1500 as the High). Today's Lower Low of the Channel Down was made on the 0.236 Fib while the Lower High yesterday on the 0.382.
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A new Channel Down has emerged on the 4H chart (RSI = 41.160, MACD = 0.000, ADX = 51.810) and is headed towards the 1.07850 symmetrical low (from March 25th). This is our new Target 1. The 1.06500 Target 2 is intact.
Notice how the Fibonacci lines are playing a pivotal role during both the earlier uptrend and the current downtrend. The March 27th High was done almost on the 0.618 Fibonacci (counting 1.1500 as the High). Today's Lower Low of the Channel Down was made on the 0.236 Fib while the Lower High yesterday on the 0.382.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial