EURUSD, Daily
In the Daily timeframe, EURUSD formed a rising wedge pattern. Price fell to 61.8 Fibonacci and MA200, with MFI and DeMarker indicating a major oversold condition.
- EURUSD could be considered to buy on a bounce from support and a breakdown of the trendline with a target to 1.0950 and further to 1.1000;
Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.
Author: Egor Schmidt
