EUR/USD - Double bottom formation at our marked key level
Updated
The euro continues to resist dollar bulls by holding this level.
Long wicks to the downside in recent price on the 4HR show bulls trying to push price down and break this level but failing.
Can see price might trade in this 50 pip range for the rest of the week. However, be ready to adapt your directional bias if we see a price break down through this level.
Happy Trading folks!
Long wicks to the downside in recent price on the 4HR show bulls trying to push price down and break this level but failing.
Can see price might trade in this 50 pip range for the rest of the week. However, be ready to adapt your directional bias if we see a price break down through this level.
Happy Trading folks!
Note
We’ve seen a break of this level. Following our previous analysis we have been bearish on the pair for some time and predicted bearish movement following the initial break of structure clinging with USD residing and long term high and lows across all majors. We’re expecting more dollar strength heading into next week.
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