Eurusd Analysis 03/12/19: The recovery has not overed yet?

Last week, I decided to wait to see if the EurUsd could recovery or not (reasons: RSI was oversold, price was at lower channel).

It was a good decision because I follow the price not to predict the price.

I did not make a strategy to buy even though price was at the lower channel and can recovery from there because many traders thought price may crash to 1.10 level.

The recovery of Eurusd is stronger than I think: The reasons may be the weak Nonfarm Payrolls, and Core CPI. Or Traders think that 1.180 level was a bottom.


Weak Nonfarm Payroll, and CPI contribute to the recovery

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The recovery was testing the 1.130 this morning and fail. 

1.1280 - 1.130 level is at the middle of descending channel and it may act as the temporary resistance.

If the RSI > 50 when the candle is closed tomorrow, price may reach to upper channel (70%).

I do not have any strategy right now and decide to scalp for some pips only.


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