The euro cross traced out a near-term price top near 0.9030 in 2017-2018 via the formation of a double top pattern. The daily studies RSI and oscillator have been shifted bearish. The shift in sentiment indicates that rallies to resistance at 0.8970-0.9030 should attract selling interest, with substantial support finds at 0.8900 and 0.8840. Below here, the focus will move down to 0.8770 and 0.8730-0.8700.
Two weeks: forecast: Potential threats remains between 0.9030-0.9080. We look to capitalize on these developments by suing moves to 0.9030-0.9070 as a selling opportunity, with a take profit at 0.8850. To limit the risk use, stop above 0.9080 on a weekly closing basis.
Two weeks: forecast: Potential threats remains between 0.9030-0.9080. We look to capitalize on these developments by suing moves to 0.9030-0.9070 as a selling opportunity, with a take profit at 0.8850. To limit the risk use, stop above 0.9080 on a weekly closing basis.