Last week we saw a nice rally in EURUSD after the dollar weakness. If you can see on the chart, you can spot a reverse head and shoulders pattern.
Whenever we see such pattern at the height or bottom of a trend, it signals a trend reversal.
In the coming week as we are looking for a pullback in DXY, similar to that, if we get a pullback sround 1.1449 price zone, we can look for bullish opportunities with our target set at 1.17523 price zone. We can evven consider our initial target just below at 1.17170
If we move beyond our first target, we'll have our next target at 1.1844 price zone.
As we are expecting a ranging in DXY, we can expect the same here.
Still, we'll trade this pair based on it's own merits.
Whenever we see such pattern at the height or bottom of a trend, it signals a trend reversal.
In the coming week as we are looking for a pullback in DXY, similar to that, if we get a pullback sround 1.1449 price zone, we can look for bullish opportunities with our target set at 1.17523 price zone. We can evven consider our initial target just below at 1.17170
If we move beyond our first target, we'll have our next target at 1.1844 price zone.
As we are expecting a ranging in DXY, we can expect the same here.
Still, we'll trade this pair based on it's own merits.