EUR/USD Worth the Risk Today!
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4H Chart
Daily Chart
EUR/USD declined further on Monday reaching as low as 1.1735, breaking through 1.1760’s support area, posting 5 days of consecutive declines, while the technical indicators are near the oversold area on the daily chart as well. However, after 5 days of consecutive declines, it's worth the risk for few longs around the current price at 1.1730’s. The last time the euro had 5 days of consecutive declines was back in October 2020, which has led to a rebound of 0.6% on the 6th day. I wouldn’t be surprised if the euro retests 1.18 in the coming days. On the other hand, my stop for such trade should not exceed 1.1690.
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 1.1679 | 1.1713 | 1.1725 | 1.1747 | 1.1759 | 1.1781 | 1.1815 |