EURUSD - Next 1.1500
EURUSD formed a Triangular consolidation that lasted 1 year.
August 2024 provided 3 key weekly candles
1. False Break - in week 1
2. Breakout - in week 2
3. Breakout Continuation - last week.
Volatility in the market, as measured by the ATR , had waned down over time from 180 pip to 120 pips. Last weeks candle was back at 180 pips , signifying momentum is back in this pair.
The RSI backs this, with a print of 70.
The VSA indicates that last week was no blow off, as only average volume was in this market.
At a current price of 1.1192, a strong performance by the EURO next week could see price near
the Supply Zone at 1.1420.
The Swing High of Jan 22 would seem to be the obvious major resistance and Target for EURUSD.
August 2024 provided 3 key weekly candles
1. False Break - in week 1
2. Breakout - in week 2
3. Breakout Continuation - last week.
Volatility in the market, as measured by the ATR , had waned down over time from 180 pip to 120 pips. Last weeks candle was back at 180 pips , signifying momentum is back in this pair.
The RSI backs this, with a print of 70.
The VSA indicates that last week was no blow off, as only average volume was in this market.
At a current price of 1.1192, a strong performance by the EURO next week could see price near
the Supply Zone at 1.1420.
The Swing High of Jan 22 would seem to be the obvious major resistance and Target for EURUSD.
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