EURUSD LONG H4
[1] EU broke the triangle. I assume it will retest the trendline before continuing the movement upwards.
[2] MACD shows the momentum shift upwards but still I will wait for the current high to be confirmed.
[3] MA 50 and MA 100 are close to the price. They will provide support, their slopes have just turned up showing the sign of an early uptrend
[4] My Stop loss will go just below the mid-line of the triangle
[5] Take profit will be 1.11442, making a double top and continuing down.
[6] 2nd TP will be 1.12311 as it is a resistance level as well as fib extension -18 lies there, which is most likely for the market to reach as the market bounced back from 76.4.
Thank you for reading this. Happy trading
[2] MACD shows the momentum shift upwards but still I will wait for the current high to be confirmed.
[3] MA 50 and MA 100 are close to the price. They will provide support, their slopes have just turned up showing the sign of an early uptrend
[4] My Stop loss will go just below the mid-line of the triangle
[5] Take profit will be 1.11442, making a double top and continuing down.
[6] 2nd TP will be 1.12311 as it is a resistance level as well as fib extension -18 lies there, which is most likely for the market to reach as the market bounced back from 76.4.
Thank you for reading this. Happy trading
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