. There is still a possibility of temporary retracement to suggested resistance line (1.1785). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The is at 48.
TP1= @ 1.1741
TP2= @ 1.1699
TP3= @ 1.1602
TP4= @ 1.1506
TP5= @ 1.1420
SL: Break Above R2
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STOCH's on the Daily chart indicate Bulls losing momentum. MACD is beginning to turn down ... Whereas 4hr chart Bull momentum seems to hold... the 1hr chart seems to agree...
Not sure if that sounds credible sense to anyone. Comments and/or corrections would be appreciated. Thanks.