I divided the current situation into three boxes. The middle box is neutral. If the price breaks above and can stabilize in the upper box, then that is somewhat of a small indication or a first step to see eurusd rise further this week. On the contrary, if the price breaks and stabilizes in the lower box, that is a small indication that the market remains weak this week with a risk of falling to 1,11065 but this fall is far from certain at the moment. There are nowadays numerous indications that although the euro remains weak, a medium-term rise can also occur. Of course the euro news will probably determine how the eurusd will react.
Comentário:
The green zone is a potential strong place for a reversal if the price stabilizes in the lower box (red)