EUR/USD was
descending but encountered support at 1.2630 , which was expected, just as it
was expected to bounce back a bit from it. Personally, I still think the
bearish trend will continue, but EUR/USD first needs to break below 1.2630.
Whether that will happen right away or range will start again is uncertain,
either way at the moment the market is not particularly volatile and we might
have to wait until tomorrow or even next week before we see any major changes.
Once it does break below 1.2630, however, I still expect it to head for target
1.2500.
good support
ReplyDeleteUseful analysis, thank you
ReplyDeleteGreat review, congratulations.
ReplyDeleteI don't think the support will be broken easily price tested the support and rebounded back.
ReplyDeleteCongratulations for the post, very helpful.
ReplyDeleteGood point, I agree.
ReplyDelete