The EURUSD pair faced resistance at 1.1800 levels as expected on Friday before reversing sharply lower. EURUSD bulls seem to get caught in a trap, after prices broke above 1.1745 levels, taking them in the long side. Believe it or not, after changing our stand from bullish to neutral, we continue staying aside for now until the structure gives further clarification. Looking at the counts, a probable expanded flat could be in the making for now. If this holds true, we can expect EURUSD -0.07% to remain below 1.1800 levels for now. Please note, that we shall not be surprised to see EURUSD potential drop towards 1.1500 levels going forward.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.