benjamenharper

benjamenharper

To be fair, there is also a bullish case for EURUSD. We were trading Friday and the up trend was strong and this chart offers a possible explanation. Perhaps there was an upward breakout on Friday and thus this uptrend could take us above and beyond the current range. On the 4hr chart, it does look like price wants to go higher. The slope and overbought /...

benjamenharper

Short. Upon examining the EURUSD chart over the past 30 days, several notable levels of support and resistance become evident. The Buy zone is identified in green, while the Sell zone is depicted in red, with the midline represented in grey. Building upon this basic analysis, it appears probable that the price movement will experience a decline in the upcoming days.

benjamenharper

EURUSD has been in a strong downtrend for several days, trading below the trend. During Friday's New York Market session, we got a bounce up on the 1hr back to test the trend line. However, that bounce stopped at the trend line, and we are now overbought on the 1hr and hitting resistance. I expect we will be neutral to bearish when Tokyo session opens Sunday / Monday.