EURUSD Rejected on two Resistances. 1.05900 potential rebound.
EURUSD rebounded on Support (1) as suggested on our previous analysis (see bottom for chart) and hit the 1.06650 Target.
The rejection took place both on the Falling Resistance and Resistance (1).
Pullback expected and the first Support level is the 0.236 Fibonacci.
Trading Plan:
1. Buy on Fibonacci 0.236.
2. Buy on Support (1).
Targets:
1. 1.06500 (Falling Resistance).
2. 1.06300 (Falling Resistance).
Tips:
1. RSI (4h) turning overbought is an additional reason for this expected pullback.
2. The MA50 (1d) crossed over Support (1). It may offer this time buy presence above it.
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Notes:
This is an extension of this trading plan:
The rejection took place both on the Falling Resistance and Resistance (1).
Pullback expected and the first Support level is the 0.236 Fibonacci.
Trading Plan:
1. Buy on Fibonacci 0.236.
2. Buy on Support (1).
Targets:
1. 1.06500 (Falling Resistance).
2. 1.06300 (Falling Resistance).
Tips:
1. RSI (4h) turning overbought is an additional reason for this expected pullback.
2. The MA50 (1d) crossed over Support (1). It may offer this time buy presence above it.
Please like, follow and comment!!
Notes:
This is an extension of this trading plan:
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