Euro / U.S. DollarUpdated Is EUR/USD about to go back below 1.08?
Dear traders, in my previous EUR/USD ideas I recommended you
to buy with initial target at 1.0970. As you can see, price reached
my buy target last week.
Currently, EUR/USD has pulled back from the broken support possibly
turned resistance level as indicated in the chart. We are also seeing
the formation of a long-legged doji in the daily chart.
So, a culmination of the above two factors indicate the EUR/USD may drop
further towards 1.08 as long as the key level at 1.0970 remains unbroken
to buy with initial target at 1.0970. As you can see, price reached
my buy target last week.
Currently, EUR/USD has pulled back from the broken support possibly
turned resistance level as indicated in the chart. We are also seeing
the formation of a long-legged doji in the daily chart.
So, a culmination of the above two factors indicate the EUR/USD may drop
further towards 1.08 as long as the key level at 1.0970 remains unbroken
Note
Markets appear to be a bit slow today. Will probably catch up pace by mid weekNote
The bearish setup will be validated if price goes to at least 1.09Note
This might happen
Note
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.