alexkyp
Short

EURUSD potential SELL

FX:EURUSD   Euro / U.S. Dollar
The pair have tested the 1.14 are several times where it faced consistent rejection and it closed the week on the 200 EMA .
There is a clear triple top formation on the 4hr time frame and is currently forming the second leg of an M formation on the daily timeframe .
We can expect the pair to drop further if US Dollar index strengthens further.
Upcoming news on EUR on Thursday may affect the current trend for the pair but there is no indicator showing a further upward trend!

Comments

I've been watching this pair for over 2 weeks now & its price has been rather choppy (up,down,up,down) with no obvious sense of direction (frustrating !!!). Level 1.13550 seems interesting as price is finding both support & resistance. However i've decided not to invest my money in this market (i think you shouldn't too) until price starts showing a tradeable pattern.
+1 Reply
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