EURUSD Hit 4H MA200, 1st time in 2 months. Two buy entries.

The EURUSD pair is having a strong bearish session today, dropping as low as the 4H MA200 (orange trend-line) at the moment, for the first time in 2 months (since November 04). This hit the exact bottom (Higher Lows trend-line) of the Channel Up (green) that started after the November 15th High.

In combination with the 4H RSI breaking its oversold barrier (30.000) for the first time since November 03, the current level represents a strong buy opportunity on a 1-month/ medium-term basis and we are targeting first the 1.07150 December 30 High and the 1.07925 May 30 High in extension.

With EURUSD already deep into a 1D Golden Cross, we see the 1D MA50 (yellow trend-line) as the long-term Support and 2nd buy entry, in case the price closes a daily candle below the 4H MA200. This pattern is invalidated only by a 1W candle close below the 1D MA50, in which case the September 28 Higher Lows trend-line will be targeted.


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