Good morning,
EUR/USD analysis update:
- 2 months ago 1.1700 was broken and now the price pulled back to support ( resistance to support ). The support held few times and was not broken.
- Breakout of 1.1850 would lead us to the zone of 1.2090 and this is our next decision point.
- None of the last 2 bars managed to close below the mother bar from wednesday.
- Dollar is in bullish trend and was strongly rejected from bearish trend line by a pin bar on daily and engulfing bar on weekly basis.
Alternative:
If it goes back to 1.1700, I would expect a potential head and shoulders breakout and to get short on this pair.
Have a nice weekend!
EUR/USD analysis update:
- 2 months ago 1.1700 was broken and now the price pulled back to support ( resistance to support ). The support held few times and was not broken.
- Breakout of 1.1850 would lead us to the zone of 1.2090 and this is our next decision point.
- None of the last 2 bars managed to close below the mother bar from wednesday.
- Dollar is in bullish trend and was strongly rejected from bearish trend line by a pin bar on daily and engulfing bar on weekly basis.
Alternative:
If it goes back to 1.1700, I would expect a potential head and shoulders breakout and to get short on this pair.
Have a nice weekend!