EURUSD possible correction start at 1.0550 level?
The EURUSD is in an extended down move and getting close to previous significant event area's.
At around 1.05500 there is a good chance that we will see a correction move up to the 100 EMA.
Once price reaches the level, it might be good to look on the 1 hour chart for a 123 reversal pattern for trade confirmation to the upside.
At around 1.05500 there is a good chance that we will see a correction move up to the 100 EMA.
Once price reaches the level, it might be good to look on the 1 hour chart for a 123 reversal pattern for trade confirmation to the upside.
Comment:
123 reversal pattern on 1H basis confirmed and entry in long direction would be profitable.
I am monitoring the price now on the 1H chart and wait for a 123 reversal pattern for a long entry confirmation.