EURUSD short term relief rebound is expected.
EURUSD is trading inside a Channel Down on the (1h) time frame.
The price hit its bottom and is consolidating, being oversold on the RSI (1h).
This consolidation usually leads to a short term rebound to the 0.5 Fib and MA50 (1h).
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.08550 (the 0.5 Fib and potential contact with the MA50 (1h)).
Tips:
1. The RSI (1h) has formed the exact same sequence it did on October 10th. That was also a bottom that led to a 0.5 Fib/ MA50 (1d) test.
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Notes:
Past trading plan:
The price hit its bottom and is consolidating, being oversold on the RSI (1h).
This consolidation usually leads to a short term rebound to the 0.5 Fib and MA50 (1h).
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.08550 (the 0.5 Fib and potential contact with the MA50 (1h)).
Tips:
1. The RSI (1h) has formed the exact same sequence it did on October 10th. That was also a bottom that led to a 0.5 Fib/ MA50 (1d) test.
Please like, follow and comment!!
Notes:
Past trading plan:
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