EUR/USD:
The euro against the dollar fell again yesterday after hitting the lower support level and closed higher at 0.99449. On the D1 chart, we can see that the bearish power is gradually fading today. Although the current general trend is still in a downward trend, the current price still has a very large room for correction. You can use the Fibonacci backtest 0.5 position as a reference target for take profit.
On the H4 chart, we can see that the price has formed a horn pattern. And the up and down fluctuations of the 5 segments have been fully revealed. And it can be seen on the MACD indicator that the bearish power has gradually subsided. The instability of the market has been gradually digested. There is a high chance of a reversal of the trend in the future.
Order suggestion:
Entering a long order at a low level, in the long term, you can choose to wait for the price to complete a complete correction before entering the market and go short.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
