EURUSD
Folks, next week's sessions, I'm looking for a retest of a bullish breakout above $1.0811 with follow through to $1.0833 level. Should price action waiver at those levels, then expect a retracement back towards last week's lows of $1.0735 with further pullback towards $1.0677. However, a pullback extending towards $1.0611 could indicate exhaustion and the resumption of a sideways price movements for upcoming sessions. A bullish EURUSD is supported by continued weakness in USDJPY, coupled by higher price action in crude oil as indicators. Take out the popcorn bowl, it could get interesting from here.
Comment:
Well folks, just as described, a retreating EURUSD over the past few trading sessions, saw it retesting the $1.0610 level, before it's reversal. Notice the inverse price DIRECTION correlation to USDJPY ? The Algos are using USDPY'S strength to exert downward pressure onto EURUSD. AWESOME.
