EUR/USD
reached the support at 1.0850 and bounced off of it, then it continued
consolidating sideways for a few days and formed several very telling
candlesticks on the daily time-frame, namely a pair of spinning top candlesticks
as well as an inverted hammer candlestick before it continued moving to the
upside. More importantly, the pair reached and broke above the resistance at
1.0970, which coincides with (MA)89 indicator on the four-hour time-frame. Next
week EUR/USD will likely continue moving to the upside and its next target will probably be around 1.1000 – 1.1020, and a possible breakout above that level will lead
to a further move to the upside towards 1.1100.
Thank you for the analysis, will watch those levels!
ReplyDeleteGood article, thanks.
ReplyDeleteIt seems to be losing strength.
ReplyDelete