EURUSD testing resistance at 1.1843 - Important area to watchout
EURUSD have traded in a very narrow range on Friday, almost testing the 1.1843 resistance area, market is trading above the 50 period simple moving average, however I am seeing the price action getting squeezed here.
There could be two possible scenarios, if market breaks out this level and holds above with strong momentum, scope is there for a revisit to 1.1917.
Otherwise if it rejects this area, probability is to test 1.1745 where there could be a potential double bottom formation.
Trade Safe & never risk more than 2% of your capital.
Good luck.
There could be two possible scenarios, if market breaks out this level and holds above with strong momentum, scope is there for a revisit to 1.1917.
Otherwise if it rejects this area, probability is to test 1.1745 where there could be a potential double bottom formation.
Trade Safe & never risk more than 2% of your capital.
Good luck.
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