EURUSD expected to rebound
After being oversold for a few weeks without significant bounce, eurusd has finally retested the major support level since 2023 at 1.04907 area. Divergence also occurs on the RSI indicator, indicating that bearish pressure has been diminished and that the price has reached the breaking point to reverse the trend. Based on the seasonal data, November to December have been favourable to eur as known as Santa clause rally.
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.