Eurusd is likely to end at 1.1700 area.
If there is a major unclosed pivot weekly, monthly, yearly - price usually goes to close it.
In our case its 2019 yearly pivot. Price never tested it and is moving to do that.
Then we have to 7 more factors to support our idea
1. TD breakout projection - sends us to the same area.
2. Bullish continuation flag pole projection - sends to the same area
3. Trade weighted Euro currency index made inverted head and shoulders and is gonna trend higher
4. COT data - institutional traders added to their long positions
5. EURUSD strongly rejected several times from 2000-2020 up trendline.
6. 80 percent of retails are selling...someone is buying from all of them)
7. Price broke yearly pivot (and 2019 average price level - this year they coincided) and did a nice retest as it should.
I can be wrong of course. Nothing is sure in this game)
THIS IS NOT A FINANCIAL ADVISE.
Trade weighted EURO currency index (you can see it broke downtrend and formed inverted head and shoulders) is available here for free
www.ecb.europa.eu/st...r/html/index.en.html
If there is a major unclosed pivot weekly, monthly, yearly - price usually goes to close it.
In our case its 2019 yearly pivot. Price never tested it and is moving to do that.
Then we have to 7 more factors to support our idea
1. TD breakout projection - sends us to the same area.
2. Bullish continuation flag pole projection - sends to the same area
3. Trade weighted Euro currency index made inverted head and shoulders and is gonna trend higher
4. COT data - institutional traders added to their long positions
5. EURUSD strongly rejected several times from 2000-2020 up trendline.
6. 80 percent of retails are selling...someone is buying from all of them)
7. Price broke yearly pivot (and 2019 average price level - this year they coincided) and did a nice retest as it should.
I can be wrong of course. Nothing is sure in this game)
THIS IS NOT A FINANCIAL ADVISE.
Trade weighted EURO currency index (you can see it broke downtrend and formed inverted head and shoulders) is available here for free
www.ecb.europa.eu/st...r/html/index.en.html
Trade closed: target reached