eurusd price action
we can on the pair couple things:
1. the pattern that show to us that there is more room for upside move
2. the trend down was stop abit at the low prices and the usd start to shoe weeknes
my assumption that we are going to see 1.11+_ area
Weak US economic data shifted the traders’ attention towards the euro. This week’s US data puts USD under pressure. The US currency moved down from 100.00.
friday session, the pair managed to breach 1.0830, but closedthe day below
The short time frames shifted to buying. Higher lows and higher highs are developing in the short term chart. The pair managed to close above the previous swing low at 1.0710 . These are the factors supported bulls. The pair can stretch up to 1.0930. The big distribution pattern has been formed at 1.1080. We will re-analyze the trend in case the price closes above 1.1055. The double bottom is likely to be placed at 1.05 area. Eventually, the positional view still favors bears. The intraday support is found at 1.0710
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| eur pattern |
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice