EURUSD
After quite a drop on Friday, caused by the number of numerous data positive for USD , it is a question what happens next ??
Well, base on the pattern, derived from the daily chart , early Europe might just pick it up, for no good reason whatsoever, except for the custom to buy EUR at all times…Now there is a possibility to reach the first Resistance at 1.08200, but depending on the mood of those involved, it can reach up to 1.08400 and still be in the strong downtrend.
Support awaits at 1.07450 and might prove to be a bit stubborn…nevertheless , once taken out ( as pattern suggests at least another 3-4 weeks of down pressure ), opens the road to first target in 1.05 area. Now, if that happens, we’ll be targeting parity , over period of time. I’ll be with you and updates tomorrow Europe morning…Ciao
© 2024 Global View