eurusd comeback or its just correction

eurusd comeback or its just correction time

eurusd was pushed higher after last Friday NFP result, Friday close and a move to new day highs.   

earlier in the Asia-Pacific session, the price found support buyers in 1.0920 area. 
Fed’s Fischer suggests September rate hike not a done deal “The interesting situation in which we are is that employment has been rising pretty fast relative to previous performance and yet inflation is very low,”
this words  lead to weak usd dollar ,from the technical view we can see:
bulls can take the lead now to 1.1130-1.1170 area while the price remain above 1.1020 
further support stay at 1.0960 area
break above 1.1130-70 could lead to 1.1250-1.1320 area, while break down again 1.0920 level will confirm the downtrend 
In the long term, a projection target stay under 1.00, proving that a bearish breakdown of the monthly demand level at 1.0550 occurs.
Multiple ascending bottoms were established around the levels of 1.0460, 1.0550, 1.0640 ,1.0720-80 ,1.0820-90. These levels corresponded to the daily uptrend depicted on the chart.

eurusd technical analysis

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

Leave a comment