EUR USD ANALYSIS
EUR/USD still traded below 1.15 after reached last week all the way to 1.1300, from that level we can see retracement – closed daily above 1.1430 will lead to 1.1630 and even more up targets such as 1.1670 and even 1.1740
As I said the last post – look closely we can see head and shoulders pattern
EUR/USD succeeded to take out 1.15 support, break up again on daily basis 1.1760 price level will confirm medium term rally resumption and target next key at 1.1880 and even 1.2080 However, sustained price below will extend the consolidation pattern from 1.2091 with another decline through 1.1300 support.
in the bigger picture, this is still seen as a corrective move for the moment.
In case of another rally, we’d expect retracement of 1.2560 to 1.1500 at 1.1880 to limit upside and or even to yellow strip at 1.2080 and bring reversal.
Break up again on a daily basis 1.2560 price level will confirm medium term rally resumption and target next key Fibonacci level at 1.2860
While break again last lows will confirm for more downtrend to closed old GAP from 2016 who located in 1.0770 price area
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| EUR USD ANALYSIS |
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