#EURUSD trying to test long term trendline looking for support!!
Hi All, my main 3 take-outs from this analysis are the following:
1- EURUSD is approaching the support area of 1.11 (actually it would be between 1.10 and 1.11) which is historically relevant
2- The cross is also trying to test the descending red long term trendline, which was brocken in August 2020 with volumes
3- The RSI in the weekly chart is in oversold territory and everytime this happened in the past, the price rebounded strongly. We might be very close to this to happen
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
1- EURUSD is approaching the support area of 1.11 (actually it would be between 1.10 and 1.11) which is historically relevant
2- The cross is also trying to test the descending red long term trendline, which was brocken in August 2020 with volumes
3- The RSI in the weekly chart is in oversold territory and everytime this happened in the past, the price rebounded strongly. We might be very close to this to happen
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
