Possibility of a pullback in EUR/USD if this level holds
The formation of a bullish reversal candlestick in EUR/USD can be a good
technical sign for the Euro bulls. However, the buyers must exercise caution before betting big.
EUR/USD is still below the key moving averages on the hourly, 4Hour and daily charts. Besides,
the main support level is still at 1.1720 level.
That being said, Friday's bullish reversal candlestick could still lead to some pullback this week.
So, if EUR/USD doesn't fall below the 1.1810 level, there is a chance for a recovery to the 1.20 level.
I would be looking for a low risk buy entry near 1.1825 with SL below 1.18 and TP at 1.1980.
technical sign for the Euro bulls. However, the buyers must exercise caution before betting big.
EUR/USD is still below the key moving averages on the hourly, 4Hour and daily charts. Besides,
the main support level is still at 1.1720 level.
That being said, Friday's bullish reversal candlestick could still lead to some pullback this week.
So, if EUR/USD doesn't fall below the 1.1810 level, there is a chance for a recovery to the 1.20 level.
I would be looking for a low risk buy entry near 1.1825 with SL below 1.18 and TP at 1.1980.
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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.
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.