Good morning Traders,
My analysis for this week on EUR/USD is that we are currently forming a descending triangle pattern on all the higher timeframes from the monthly down to the 4 hourly with the key supply zone of 1.08921 to be reached as part of a break and retest move to the downside and heading to the key deman level of 1.06689 and if we break this support level then we shall make a continuation to the downside and retest the makor level of 1.04669 which has not been tested since October 2023 and last time it was mitigated was July 2022.
Very interesting narrative playing out, whaat's your thoughts?
Happy Trading.
:)
My analysis for this week on EUR/USD is that we are currently forming a descending triangle pattern on all the higher timeframes from the monthly down to the 4 hourly with the key supply zone of 1.08921 to be reached as part of a break and retest move to the downside and heading to the key deman level of 1.06689 and if we break this support level then we shall make a continuation to the downside and retest the makor level of 1.04669 which has not been tested since October 2023 and last time it was mitigated was July 2022.
Very interesting narrative playing out, whaat's your thoughts?
Happy Trading.
:)