EURUSD: Buy above the 4H MA50, sell below.

The price is now rebounding exactly on the 4H MA50 (1.04416), which is a short-term bullish signal that can target 1.05320. If it breaks below the 4H MA50 though, sell and target the Higher Lows trend-line around 1.03750 of the Bullish Megaphone pattern that started on the Nov 21st Low. As mentioned before, the best buy entry on a 1D scale will be when the 1D RSI hits 60.000 (now is 63.51 with the MACD: 0.013 and ADX: 41.482). Notice how the 1D MA200 is also now 1.03561, which was formerly the strongest Resistance of the Bear trend of 2022. This pattern is invalidated and turns bearish medium-term if we close below 1.03280, and targets the 1D MA50 (1.00680), which is where we will be buying for the long-term.


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