Ardy

EURUSD Weekly TF

FX:EURUSD   Euro/U.S. Dollar
207 0 0
EURUSD             - The pair on the weekly TF is seen going sideways. We do not see a defined trend in this pair on this TF. We are consolidating within a triangle which is within a larger triangle. The last 5 weeks have seen bullish movement for this pair. It is now clearly above the minor downtrend line that I have drawn. It closed exactly at resistance level seen at 1.33458 level.

Will it push higher?

If it does, the 50% Fib level will be its next target at 1.3479.

If the sellers come in, we can see this pair targeting 1.30 again.

I am neutral on this pair based on my reading of the chart on this time frame.
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