The EURUSD moved higher last week as price rebounded following a decline to 1.2200 area the previous week. Notice the false break of key resistance up near 1.2520 that occurred last Friday, eurusd weakness could continue this week as this is a formidable resistance level having given rise to a pin bar reversal a few weeks back. However, eurusd uptrend is still...
1) First of all we saw a break to the upside and retested the downtrend trendline, meanwhile respecting the CTL.
2) Breaking the CTL we retested the back of the downtrend trendline (2i)
3) We have since pulled back into previous structure which happens to be a 61.8% fib level and the back of the CTL. We have also formed a nice rejection candle which could be the...
