EURUSD Buy structure to the 4H MA50.

2020-01-24 02:08:57

The price rebounded on the 1.10370 Support. Since the pattern is a Channel Down (clear Lower Highs and Lower Lows) today's low is most likely the Lower Low of the structure.

Levels to watch:

- The 4H MA50 has been a Resistance since January 17.
- The RSI hit 29.85 which has been a Support since November 11.
- The 4h MA200 has been a pivot in recent months (Support on uptrend, Resistance on downtrend).

Projection:

- The price rebounds on the current Lower Low and Support until at least 1.10900. The 4H MA50 and MA200 form a Resistance Zone then, Lower High is formed and sellers take action again.


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