Hello traders, Currency pair
EURUSD, technical analysis. The basis of the trading strategy includes support and resistance levels, RSI, and AO indicators.
Everything is going according to plan. Buyers have stepped in, so now we can consider a downside reversal. The pair has slightly dropped, almost reaching the target and then reversed. Let's see what the indicators are saying. On the chart, it is evident that the pair tested the level of 1.1675 and is currently trading at 1.1660. RSI is moving in the middle of the range, looking confidently downwards, while AO is showing an excellent selling reversal signal. The price of the
EUR/USD pair is above the previous day's trading range. It seems like a strong opportunity for a descent. The signals are quite strong, indicating a likelihood of a decline. I assume that the price will test the support level at 1.1610. Based on the analysis, cautious selling is recommended until 1.1615. However, it's advisable to keep the risks moderate, so don't forget about setting stop-loss orders.
