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Eurusdtradesetup

EUR/USD could be due a break from its bearish drubbingHaving fallen for six consecutive days, bearish momentum on EUR/USD is beginning to fade. Tuesday's low also held above the 1.06 level and 71.6% Fibonacci level whilst RSI (14) and (2) are in oversold levels on the daily chart. The 4-hour chart shows bullish divergences on the RSIs, so the bias is to seek dips towards 1.06 for a long towards 1.0650 at a minimum. As we suspect some mean reversion higher is due - even if only temporarily.
Long
by CityIndex
EURUSD Swing IdeaPrice is clearly in a falling wedge meaning a bullish reversal is imminent, overall. But scaling into price's current movement, I had anticipated a third touch on our resistance trendline, of which price did give us. Not only that... we also got this touch on the 78.6 Fibonacci retracement line, which give us a more stronger bias about our anticipated short positions. Entries will be triggered when price breaks below that rising wedge. My target will be the -27 extension. *Disclaimer* This is not financial advice. Forex trading is a risky business. Exercise proper risk management. #TradeLikeMagnatrio
Short
by Magna_Riqueza_Divina
5