๐ถ๐ต EUR/USD Next Week = No Increases
๐ถ๐ต Nearest strong support zone: level of 0.236 pattern wave.
๐ถ๐ต Nearest strong resistance zone: around recent peaks.
๐ถ๐ต Technical environment:
- Moving averages: Uptrend
- MACD: Uptrend
- RSI: Downtrend (divergence)
๐ถ๐ต Price action: EUR/USD during Friday's session did not want to continue rising despite the lack of dollar strength which I believe is yet to come in the coming week. Despite these facts, we were going around in circles. From around the current levels I would sooner look for the possibility of a correction than a continuation of the uptrend. But first we need some kind of accumulation at current levels and several attempts to attack the recent peaks and local Friday lows. Everything will turn out in the coming week, worth watching!
๐ถ๐ต The scenario I'm playing is to wait for the end of the accumulation in order to join the likely downward correction. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
๐ถ๐ต Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
๐ If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. ๐
๐ถ๐ต Nearest strong support zone: level of 0.236 pattern wave.
๐ถ๐ต Nearest strong resistance zone: around recent peaks.
๐ถ๐ต Technical environment:
- Moving averages: Uptrend
- MACD: Uptrend
- RSI: Downtrend (divergence)
๐ถ๐ต Price action: EUR/USD during Friday's session did not want to continue rising despite the lack of dollar strength which I believe is yet to come in the coming week. Despite these facts, we were going around in circles. From around the current levels I would sooner look for the possibility of a correction than a continuation of the uptrend. But first we need some kind of accumulation at current levels and several attempts to attack the recent peaks and local Friday lows. Everything will turn out in the coming week, worth watching!
๐ถ๐ต The scenario I'm playing is to wait for the end of the accumulation in order to join the likely downward correction. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
๐ถ๐ต Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
๐ If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. ๐
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๐ฒ To keep up to date with all my activities I invite you to visit my Telegram ๐ฒ
๐ฒ www.t.me/Investmatez ๐ฒ
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