Unfortunately
for me, it appears that I was wrong yesterday when I said that EUR/USD will
continue falling until it reaches target 1.2200, because the pair bounced to
the upside. I admit that I was quite surprised when that happened. That said,
the pair reached a pretty strong resistance level at 1.2440, so the question is
what will follow next. If it breaks above the resistance it is likely to
continue on its way to 1.2590 – 1.2600. If it fails to break above the resistance, it will likely to continue
on its way down to 1.2200 sooner or later. I suppose time will tell.
A surprise indeed.
ReplyDeleteVery good post!
ReplyDeleteVery good analysis. Nice rally.
ReplyDeleteEURUSD rallied on yesterday session but struggle to keep up the bullish momentum just below 1.2450 keeping the resistance intact, so near term outlook stays bearish. The pair might make another run to the 1.2450 level giving us another opportunity to go short.
ReplyDeletegreat analysis
ReplyDeleteTime will tell.
ReplyDeleteShould still heading to 1.22.
ReplyDelete