EURUSD Last decline starting. Be ready to buy on this signal

24 במאי 2023

The EURUSD pair is close to hitting our sell target as presented to you on our last week's analysis (see below):

The 4H MA50 (blue trend-line) remains the Resistance since May 08 and following the 4H Death Cross, we are on the 2nd part of the correction within the 6-month Channel Up. The Lower Lows as defined by the previous correction phase of February show that the bottom may be a little lower than our 1.07000 sell target, on the Inner Higher Lows trend-line which has already three exact contacts.

In either case, we will only buy when the 1D RSI breaks above its MA trend-line, which was the buy signal on February 28. Our long-term bullish target is 1.11350.

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