3 min readEURO VS DOLLAR (EUR/USD):
As noted in the live trading stream and in previous articles, I highlighted this internal support area around 1.07800, where we have traded and currently appear to be experiencing a rejection for the time being.
Upon closer examination of the technicals, it is evident that bearish momentum continues to exert significant downward pressure. However, if we begin to trade higher, I will be keen to see how price action responds to various levels around the 50% mark on the Fibonacci tool. Currently, the RSI indicator appears to have rejected the 30% level, indicating that the price was oversold within those internal support levels.
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