EUR-USD Daily and Trend Analysis
On the daily chart with the 1D candlestick view we could easily see the fiber at the peak of the longterm descending channel, with a clear school of reversals, indicating no sign of a breakout anytime soon, with the recent dynamics of the covid outburst and shutdown in the EU Zone its quite realistic to expect a downturn in the Euro of which would mean the downtrend will continue for much longer time.
Viewing the H4 charts makes it much clearer seeing the closers dynamics of the market.
We are expecting a correction of about 300-400pips within the next few days.
❇️ Trend Resistance R1: 1.19000
🛑 Trend Support S1: 1.14000
On the daily chart with the 1D candlestick view we could easily see the fiber at the peak of the longterm descending channel, with a clear school of reversals, indicating no sign of a breakout anytime soon, with the recent dynamics of the covid outburst and shutdown in the EU Zone its quite realistic to expect a downturn in the Euro of which would mean the downtrend will continue for much longer time.
Viewing the H4 charts makes it much clearer seeing the closers dynamics of the market.
We are expecting a correction of about 300-400pips within the next few days.
❇️ Trend Resistance R1: 1.19000
🛑 Trend Support S1: 1.14000
