EUR/USD: Highly oversold, at 200MA and 0.382 retracement
At a level where we could see a retracement, broken out of the horizntal range though!
Depending on the structure that forms now we can see what is likely to happen.
Small retracement above the MA and range (or just in) could mean it is just temporary relief and it will continue further after that, watch for correctiev structures.
If it goes down more violently we might get back to re-test the longterm up trendline.
Waiting for a clearer view, if you are long already from near the bottom then stay long but ock in some profits and shift SL...
Depending on the structure that forms now we can see what is likely to happen.
Small retracement above the MA and range (or just in) could mean it is just temporary relief and it will continue further after that, watch for correctiev structures.
If it goes down more violently we might get back to re-test the longterm up trendline.
Waiting for a clearer view, if you are long already from near the bottom then stay long but ock in some profits and shift SL...
Comment:
Still moving on but getting seriously overbought now...:
