EURUSD: Bearish Reversal Underway With a 1.1300 Target
If you aren’t already short from the 1.1875 retest, you may want to hold off for now. The pair is quite overextended at the moment so there’s a decent chance we’ll see a rotation higher into 1.1670 resistance next week.
The next key support comes in at 1.1490. And if the price action throughout 2017 is any hint, we could very well see a bounce from this area back to 1.1670. Of course, there’s always the chance that U.S. dollar bulls don’t stop for a breather until 1.1300.
Regardless of what occurs within the present range, as long as 1.1670 holds as resistance on a daily closing basis (5 pm EST), my target will remain 1.1300. If buyers manage to retake the 1.1670 handle, it would signal a false break and re-expose 1.1875 resistance.
Source: bit.ly/2iDITXT
The next key support comes in at 1.1490. And if the price action throughout 2017 is any hint, we could very well see a bounce from this area back to 1.1670. Of course, there’s always the chance that U.S. dollar bulls don’t stop for a breather until 1.1300.
Regardless of what occurs within the present range, as long as 1.1670 holds as resistance on a daily closing basis (5 pm EST), my target will remain 1.1300. If buyers manage to retake the 1.1670 handle, it would signal a false break and re-expose 1.1875 resistance.
Source: bit.ly/2iDITXT
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.