On the EURUSD daily chart, we can see that the pair is testing the median line of the uptrend Pitchfork channel and also the 200 SMA 1.2020 level. Looking for a bounce from here for an upside continuation. A daily close below this level would indicate a medium-term uptrend break to the downside.
Note: stay away from the trade entries for now and look for a price action bounce or break below the 200 SMA
Forex managed accounts! Track verified managed accounts on MyFxbook!
FOREX MANAGED ACCOUNTS
New Prop-trading opportunity! Trade from your own MT4 station! Two last registration days!
REGISTER
Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position Risk Free. We are publishing 5-10 trade alerts per week via real-time Private twitter feed!