EUR/USD
reached the strong resistance around 1.1190 – 1.1200 and unsurprisingly it
formed a double top there as well as a very telling shooting star candlestick on the
one-hour time-frame before it started moving to the downside. That move,
however, might be over as the pair reached the support at 1.1140, coinciding
with the (MA)89 indicator on the same time-frame, and formed a hammer and an
inverted hammer candlesticks above that level. I expect a new move to the
upside towards 1.1170, and if there’s a breakout above that resistance the pair will
likely continue climbing to test the one at 1.1200 again.
Very helpful assessment!
ReplyDelete