EURUSD: Short and medium term approach.
This analysis shows both the short term and medium term dynamic of EURUSD.
On the short term it is trading on a 1D Channel Up which is currently neutral (RSI = 53.178, CCI = 44.7207, Highs/Lows = 0.0000) as after making a Higher High last week at 1.1572, it is now pulling back to price a Higher Low at or close to 1.13400 based on the Higher Low sequence.
On the medium term, this upside is limited by a bearish channel on 1W (MACD = -0.010, ROC = -0.878) that is selling every high on the monthly chart. The Resistances and possible rejection levels are seen on the chart.
Attention is needed with buying the short term Channel Up, as at the first sign of a Higher Low break-out, the medium/ long term bearish trend will be resumed and a new Low (< 1.1215) should be made.
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On the short term it is trading on a 1D Channel Up which is currently neutral (RSI = 53.178, CCI = 44.7207, Highs/Lows = 0.0000) as after making a Higher High last week at 1.1572, it is now pulling back to price a Higher Low at or close to 1.13400 based on the Higher Low sequence.
On the medium term, this upside is limited by a bearish channel on 1W (MACD = -0.010, ROC = -0.878) that is selling every high on the monthly chart. The Resistances and possible rejection levels are seen on the chart.
Attention is needed with buying the short term Channel Up, as at the first sign of a Higher Low break-out, the medium/ long term bearish trend will be resumed and a new Low (< 1.1215) should be made.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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