EUR USD Technical Analysis
With your permission this time, I will start with Eurodollar borders because I think this shuffle begins to confuse the traders in making deals and unnecessary trading
The assumption is very simple at the moment: In the long run, I’m bearish on the pair and I think it will go down to check the open gap which is somewhere down there and even fall below 1, but that’s a big but now it’s not the case yet.
In the daily and short-term, there is a struggle between the buyers at the 1.15-1.17 level. If we take a closer look, we can see that the clear boundaries for the pair to determine the long move are in the following areas:
From below the 1.1350 + area will be sure to signal a major bearish move for the pair
On the other hand, the resistance area is at 1.1850 + whose breach will signal a change in trend and a bullish breach of the Euro
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| EUR USD analysis |
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 1.1860 and even 1.2080 However, sustained price below will extend the consolidation pattern from 1.2091 with another decline through 1.1350 support- 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 chart |
Technical analysis:
After the last retracement – we saw EURUSD took off 1.1630 – and reached to 1.1670 – targets were mention, also we saw EURUSD took off 1.1530 down and recover, Next target area, if the price will remain up above 1.1670, is 1.1730-1.1770 – if those targets will break up we need to expect for more up moving in EURUSD to 1.1860-1.1910 – see inverse head and shoulders pattern – SHOWS THE SAME TARGET
Support resistance stay in 1.1530-00 while break again last lows combined strong support at 1.1350 will confirm for more downtrend to closed old GAP from 2016 who located in 1.0770 price area
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| EUR USD technical |
This review does not include any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice
