EURUSD Breakout and pullback levels to target 1.0900
EURUSD is trading inside a Channel Up pattern since the May 14th bottom.
Yesterday it formed the first 4hour MA50-100 Bull Cross since March 14th. That was during the previous long term bottom formation.
The price is close to testing the 4hour MA200 for the first time in over 1 month.
If the candle closes over it, buy the breakout and target 1.0900 near Resistance B.
If rejected then buy the pullback near the bottom of the Channel Up. Target 1.0900 again. In that case you will see the 4hour RSI crossing under the Rising Support and declining under 40.00 before it turns into a buy opportunity again.
Previous chart:
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Yesterday it formed the first 4hour MA50-100 Bull Cross since March 14th. That was during the previous long term bottom formation.
The price is close to testing the 4hour MA200 for the first time in over 1 month.
If the candle closes over it, buy the breakout and target 1.0900 near Resistance B.
If rejected then buy the pullback near the bottom of the Channel Up. Target 1.0900 again. In that case you will see the 4hour RSI crossing under the Rising Support and declining under 40.00 before it turns into a buy opportunity again.
Previous chart:
Follow us, like the idea and leave a comment below!!
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