EURUSD is heading down towards the weekly support at around 1.16414 then I expect that it would then go back up towards 1.20850 and could then either form a head and shoulders pattern or could go over and continue to go up towards the weekly resistance area at 1.25701.
Looking at the indicators such as the RSI and Stochastic also on the Weekly chart, the Rsi ...
We could enter for a Buy trade as the looks to be a build up of Buyers at around the 130.00 zone and all depending on German ZEW Economic Sentiment which could weaken the Euro.
Over the next week could see the EURUSD within a zone, albeit may have an opportunity for a Sell trade at around the 1.9500 zone. Price could be contained due to news releases for US Retail and Core Retail Sale results. And the German ZEW Economic Sentiment.
A quick analysis of the 1HR chart, Waiting on the next few candlesticks for confirmation on the next move.
Both 1H and 4H showing divergence on STOCH RSI for the possible bearish move and break trend support, waiting for more confirmation on this. Price has tested 0.882 for a double top and possible triple top. Will be waiting for RSI to be oversold and coming ...
Still holding positions from 150.858 now up to 152.397 - Have a TP at 155.850 for remaining positions then will be looking at selling the dip. Would like to know other peoples opinions on this and if anyone is doing anything differently
EUR USD spot 1.1476-80, there is clearly indicating in weekly chart market is forming triple bottom, and market 1.1450 after forming series of lower high, neckline at 1.1450-52, market tested this 2 times now it's highly expected it's break strongly ( not the false break) and again test 1.1450, then will higher up to the minimum objective 1.2450, almost 1000 ...
