{"id":13226,"date":"2023-02-24T07:14:59","date_gmt":"2023-02-24T07:14:59","guid":{"rendered":"https:\/\/tradingshot.com\/?p=13226"},"modified":"2023-05-19T07:16:49","modified_gmt":"2023-05-19T07:16:49","slug":"eurusd-approaching-the-ultimate-support-cluster-long-term-buy","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2023\/02\/24\/eurusd-approaching-the-ultimate-support-cluster-long-term-buy\/","title":{"rendered":"EURUSD Approaching the ultimate Support Cluster. Long-term buy."},"content":{"rendered":"<p>The EURUSD pair gave us the decline we wanted as described on our last analysis 10 days ago:<\/p>\n<div class=\"tv-embeded-image\"><a class=\"js-embeded-chart-image tv-embeded-image__link\" title=\"EURUSD 4H Death Cross and CPI turning it bearish.\" href=\"https:\/\/www.tradingview.com\/chart\/EURUSD\/H3sZkF3O-EURUSD-4H-Death-Cross-and-CPI-turning-it-bearish\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"js-image-lazy-load\" src=\"https:\/\/s3.tradingview.com\/h\/H3sZkF3O_big.png\" alt=\"EURUSD 4H Death Cross and CPI turning it bearish.\" \/><\/a><\/div>\n<p>The price is now approaching Support Zone (1.04800 &#8211; 1.04500), which is also around the 0.382 Fibonacci retracement level. The Support Cluster is getting extremely strong considering that the 1W MA50 (red trend-line) is right below, which supported the price with an extremely strong rebound on January 06 2023 and the 1D MA100 (green trend-line), which was the Resistance level during 2022 Bear Market. On top of those, add the September 28 Higher Lows.<\/p>\n<p>Our strategy is to buy when the 1D RSI gets oversold, which is recent years it has always delivered a rebound to the 1D MA50 (blue trend-line). The Target 1 range is within 1.06500 &#8211; 1.0700 depending on whether the price rebounds the next week or in two.<\/p>\n<p>Beyond that, if we close a 1D candle above the 1D MA50, we will buy again and aim at the February Resistance of 1.10300 (Target 2). If not, we will short the Higher Lows break-out and buy inside Support Zone 2, where the 0.5 Fibonacci extension is.<\/p>\n<p>Tradingview link:<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/chart\/EURUSD\/QXq9TOiq-EURUSD-Approaching-the-ultimate-Support-Cluster-Long-term-buy\" target=\"_blank\" rel=\"noopener\">https:\/\/www.tradingview.com\/chart\/EURUSD\/QXq9TOiq-EURUSD-Approaching-the-ultimate-Support-Cluster-Long-term-buy<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EURUSD pair gave us the decline we wanted as described on our last analysis 10 days ago: The price is now approaching Support Zone (1.04800 &#8211; 1.04500), which is also around the 0.382 Fibonacci retracement level. The Support Cluster is getting extremely strong considering that the 1W MA50 (red trend-line) is right below, which<\/p>\n","protected":false},"author":611,"featured_media":13227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1637],"tags":[],"class_list":["post-13226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/13226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=13226"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/13226\/revisions"}],"predecessor-version":[{"id":13229,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/13226\/revisions\/13229"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/13227"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=13226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=13226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=13226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}