EUR/USD NEUTRAL (1.11800 - 1.12150 or 1.11050)
Updated
My BIAS for EUR/USD for the upcoming week is NEUTRAL.
My reasoning behind this is
-We are currently at an area which was previous 4HR Support/Resistance .
-We could see a break above 1.11600 and look for Buys up to our Supply zone at 1.11800 or even higher to our Daily Resistance at 1.12150.
-We could also see rejection of our 4HR Support/Resistance and a push down to 4HR Support at 1.11050.
I will only enter once one of these plays out ^
Like & Follow for future Analysis and Updates.
My reasoning behind this is
-We are currently at an area which was previous 4HR Support/Resistance .
-We could see a break above 1.11600 and look for Buys up to our Supply zone at 1.11800 or even higher to our Daily Resistance at 1.12150.
-We could also see rejection of our 4HR Support/Resistance and a push down to 4HR Support at 1.11050.
I will only enter once one of these plays out ^
Like & Follow for future Analysis and Updates.
Note
I have taken a SELL at 1.11450 after seeing a Bullish Shooting Star Rejection candle followed by a Bearish engulfing candle. Targets are set at 1.11075.
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