Good Day traders !! On this pair we have a "W" formation on the daily timeframe and we are heading toward the neckline of this pattern in order to complete the pattern. Also we can realize a impulse correction impulse pattern and head to the upside after the retest of the neckline which is in confluence with the 0.618 FIB retracement. From an institutional perspective the Eur is strong this week and can expect a continuation to the upside without any issue.
On the Swiss franc institutions didn't add any long during the last report of Friday but they closed a few short positions which can explain this retracement that we wish to see. On the flip side institution added a massive amount of long positions on Eur and that explains the power of the bulls from the beginning of the week.
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On the Swiss franc institutions didn't add any long during the last report of Friday but they closed a few short positions which can explain this retracement that we wish to see. On the flip side institution added a massive amount of long positions on Eur and that explains the power of the bulls from the beginning of the week.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to have your insights on this pair.