Euro/Dollar - Hitting First Low Target & Support
Hey traders,
as mentioned before, we are hitting former low targets & support area for EURUSD the last days, after being harshly declined by the Yearly Pivot $1.12206 and retesting the trendline and P-Q with
a bearish engulfing from beneath. Fairly possible the price is going to range a bit between S1-Q and S1-Y before taking any new directive approach (tendency is still down as trend is intact).
Low targets are around $1.075 to possibly find next support. Although we should watch out for possible reversal signs here. Sadly it seems growth looks very restricted compared to
further downtrend possibilities.
I am not a fundamentalist (stricly TA), but I do guess involved experts are concerned about the global situation having a further impact on this major currency pair and others.
I would be extremely happy if someone is shooting opinions below in comments, I´d like to hear an analysis on that. Also feel free to share your own charts below!
Thank you!
Neru
as mentioned before, we are hitting former low targets & support area for EURUSD the last days, after being harshly declined by the Yearly Pivot $1.12206 and retesting the trendline and P-Q with
a bearish engulfing from beneath. Fairly possible the price is going to range a bit between S1-Q and S1-Y before taking any new directive approach (tendency is still down as trend is intact).
Low targets are around $1.075 to possibly find next support. Although we should watch out for possible reversal signs here. Sadly it seems growth looks very restricted compared to
further downtrend possibilities.
I am not a fundamentalist (stricly TA), but I do guess involved experts are concerned about the global situation having a further impact on this major currency pair and others.
I would be extremely happy if someone is shooting opinions below in comments, I´d like to hear an analysis on that. Also feel free to share your own charts below!
Thank you!
Neru
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