EUR/USD – Week 18 – Waiting for a channel breakout.
In our previous analysis, we expected EURUSD to start a bearish correction around the trendline in order to gain further bullish momentum. As it stands, the price reached our trendline target and it is facing some resistance around that area.
For this week, we expect the price to correct under the ascending channel and continue to depreciate towards our target that we’ve highlighted on the chart.
Keep an eye on Friday’s NFP & unemployment rate data as it may impact the pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week, we expect the price to correct under the ascending channel and continue to depreciate towards our target that we’ve highlighted on the chart.
Keep an eye on Friday’s NFP & unemployment rate data as it may impact the pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed: stop reached
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