After monitoring the the decline in EUR strength over the last few weeks, it now looks like the bulls could be setting themselves to re enter the market.
Daily ascending trendline/support has been met with a healthy Daily candle closure; if we move into the 4Hr chart you can a bullish engulfing candle from our trendline/Fib level past our intraday key zone which...
after seeing a steady decline in EUR strength due to Brexit uncertainties, today we found solid monthly support around key level 1.5800. My bias on this pair bullish considering we get a break and closure above 1.58845 which should confirm further upside with targets set at 1.59500/ 1.6000/ 1.6500 with a very healthy RR @ 1.85.
Alternatively, if we fail to break...
Price Action is presenting itself well on the higher timeframes as you can see we had a clear break of the ascending trendline which has previously held as strong support with multiple rejections/Buy pressure since Jan 2016.
After falling 300+ pips in December we found support at around 0.7200 level which then leads us into an exhaustion phase (Sellers Taking...
Price Action is presenting itself well on the higher timeframes as you can see we had a clear break of the ascending trendline which has previously held as strong support with multiple rejections/Buy pressure since Jan 2016.
After falling 300+ pips in December we found support at around 0.7200 level which then leads us into an exhaustion phase (Sellers Taking...
