$EURUSD: Potential bottom signal here... fürFX:EURUSD von IvanLabrie

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$EURUSD has a nice confluence of factors suggesting a bottom here is possible, with it rallying back towards 1.17-1.18 over time. Weekly down trend signals have taken the Euro down for a long time now, both were 13 week long each time, with the latest 13 week decline signal expiring when the Euro hit a long term support level from where it had taken off after the initial COVID crash move. I suspect we can get a reaction here once again, and can safely take a long trade with over 4 to 1 reward to risk. There's extremely positive sentiment in the dollar as of late, and it is certainly overbought here.
Worth a shot!

Cheers,

Ivan Labrie.

Kommentar:

Gaining traction, looks like it is ready to move very soon, stop not hit, so I hold.