Moving up this week

2021년 10월 24일

EU was in a bit choppy move last week but overally it's trending to the upside.

On weekly it showed a potential bullish reversal and confirmed with green close last week. So I expect the bullish move to continue this week to reach at least 1.17 if not higher

It's RSI on lower times have all reached above 50, including daily RSI. However on 4H it shows modest consolidation range from 1.16167 - 1.167; so this week it may either continue the consolidation ranging moves, or break up above higher which is what I wish.

News Influence ECB meeting is coming this Thursday, with news mentioning risks of ECB raising interest rate earlier than previously estimated. If it happens, it could be supporting EU jumping higher.

Entry: 1.1635

SL: below 1.1617 and below 50MA on 4H; mine is at 1.1600

TP: Fib based.
Recommend to move to BE as early as possible on this pair this week.

Expected Pips: 20-65 pips
Expected Timeline: 1-3 days



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Disclaimer:
Chart is static market is not. I learn from loss and mistakes like everyone. No financial advise is given here. Your money your own risk. :) And Good luck.