Here is an analysis on EUR/USD
In our previous analysis the pair was trading @ 1.19130
We did note that if the pair breaks above resistance @ 1.19300
it might attempt to test 1.20, and this is what happened
Currently trading @ 1.19750
Bearish Harmonic has extended to resistance @ 1.20 signaling possible reversal
But as long as the DXY is bearish this might just be a retracement and not a reversal.
According to our chart DXY might still fall to next support @ 91.330 so EUR might be still bullish
The pair is still trading within its ascending channel.
If the pair breaks above 1.20 then it might attempt to hit next resistance @ 1.20800-1.20500
But if it fails & DXY becomes bullish we expect it to fall back to 1.19300
Sell entries will not be advised at this moment
link to our previous Analysis below
In our previous analysis the pair was trading @ 1.19130
We did note that if the pair breaks above resistance @ 1.19300
it might attempt to test 1.20, and this is what happened
Currently trading @ 1.19750
Bearish Harmonic has extended to resistance @ 1.20 signaling possible reversal
But as long as the DXY is bearish this might just be a retracement and not a reversal.
According to our chart DXY might still fall to next support @ 91.330 so EUR might be still bullish
The pair is still trading within its ascending channel.
If the pair breaks above 1.20 then it might attempt to hit next resistance @ 1.20800-1.20500
But if it fails & DXY becomes bullish we expect it to fall back to 1.19300
Sell entries will not be advised at this moment
link to our previous Analysis below
