Something interesting is forming on this daily chart. If you take a look at the 50SMA (red) you will see the trajection of this is upwards. This feels slightly unusual as price has been moving downwards.
I believe that in order to get the trajection of the 50SMA (red) moving downwards we would need a large down move in EURUSD which I do not think will happen. Because of this I feel taking a long position to a target of 1.0790 could offer a nice risk reward ratio.
I believe that in order to get the trajection of the 50SMA (red) moving downwards we would need a large down move in EURUSD which I do not think will happen. Because of this I feel taking a long position to a target of 1.0790 could offer a nice risk reward ratio.
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