Although the dollar seems to be turning soft, the shared currency still proved to be rather weak.
The price is still very undecided and the upside is limited with strong resistance seen at 1.15.
Asides from the challenges faced in the eurozone, the uncertainty of brexit is also weighing on the euro.
EURUSD is most likely to move sideways further and 1.15 would be the limit of the upside, thus providing a good opportunity to short.
The price is still very undecided and the upside is limited with strong resistance seen at 1.15.
Asides from the challenges faced in the eurozone, the uncertainty of brexit is also weighing on the euro.
EURUSD is most likely to move sideways further and 1.15 would be the limit of the upside, thus providing a good opportunity to short.
Comment:
EURUSD dropped for 2 consecutive days but the current structure still shows a potential for a short-term upside movement beyond 1.14 to 1.15.
A pin bar at current position could be an opportunity to long the current low.
A pin bar at current position could be an opportunity to long the current low.
Comment:
Good grief! Even with Fed Powell and Draghi making their speeches, the movement is unexpectedly sideways and involatile.
What's interesting to note is that since the price touched and got supported by 200MA, the price will be supported and sitting on top of 200MA for 7 weeks straight by the end of this week.
We shall wait and see the closing weekly candle.
What's interesting to note is that since the price touched and got supported by 200MA, the price will be supported and sitting on top of 200MA for 7 weeks straight by the end of this week.
We shall wait and see the closing weekly candle.
More observation is needed before any making any trading decision.