EURUSD has dropped 1,000 pips since my post in 2018 (see below).
The 2017 gap has finally closed. But, does the close of the gap enough to cause the 2 year downtrend to reverse?
To determine whether the downtrend can reverse or not, we might need to look at other clues, such as whether EURUSD can:
1. Close above 1.125
2. Close above weekly 50EMA
3. Test 1.04
4. Break above weekly RSI 53
Again, I am not here to predict. Instead, what I am trying to say is that If you are an inexperienced trader, you should focus on shorting unless EURUSD can do any of the 4 points above.
The 2017 gap has finally closed. But, does the close of the gap enough to cause the 2 year downtrend to reverse?
To determine whether the downtrend can reverse or not, we might need to look at other clues, such as whether EURUSD can:
1. Close above 1.125
2. Close above weekly 50EMA
3. Test 1.04
4. Break above weekly RSI 53
Again, I am not here to predict. Instead, what I am trying to say is that If you are an inexperienced trader, you should focus on shorting unless EURUSD can do any of the 4 points above.
Don't predict. We don't lose anything by waiting for market to give us clues.