EURUSD limited downside as we approach previous resistance
EURUSD - Weekly Outlook
Buying Dips in front of 1.0763 (stop at 1.0663)
Last week's price action posted a bearish Outside Candle. This formation is negative for short-term sentiment. However, the previous swing high from November 6 is located at 1.0756. What was resistance, now become support. Although the anticipated move higher is regarded as corrective, buying dips offers ample risk reward.
Our profit target is 1.0963 and 1.0988
Resistance: 1.0868 / 1.0964 / 1.0988
Support: 1.0763 / 1.0712 / 1.0666
Buying Dips in front of 1.0763 (stop at 1.0663)
Last week's price action posted a bearish Outside Candle. This formation is negative for short-term sentiment. However, the previous swing high from November 6 is located at 1.0756. What was resistance, now become support. Although the anticipated move higher is regarded as corrective, buying dips offers ample risk reward.
Our profit target is 1.0963 and 1.0988
Resistance: 1.0868 / 1.0964 / 1.0988
Support: 1.0763 / 1.0712 / 1.0666
Comment:
EURUSD has moved to 1.0763 support
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