FX forecast / EUR/USD / Our expectations
The pair moved in long-term ascending trend and in middle-term consolidation. A few unsuccessful attempts to break the main diagonal support forming the channel. Price action signal: pin bar at levels of diagonal and horizontal supports and FiBo 38.2. The price remain above SMA 200 - positive signal. Technical indicator: CCI(50) - Reversing from zone of oversold - if break level -100, the negative sentiment will weaken.
Alternative scenario: if the price breaks below the main diagonal support of the channel, the positive scenario will be dismissed and then we may look for a short positions.
SL: 1.2140
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