CapMoore

Trading Bias for the Week and Month Ahead

FX:EURUSD   Euro Fx/U.S. Dollar
41 0 0
On monthly tf price is trading in bearish territory (Below
Yearly S1) thus suggesting further losses during december.
On weekly tf price closed in the lower half of Pivot interval
Monthly PP-S1, thus consolidating with a bearish bias.
Price is expected to consolidate further with bearish
pressure and hold in the range of Monthly R1-S1 with bias
to the PP-S1 range during the coming week.
On daily tf price closed just below the weekly PP which is
suggesting more consolidation during monday with price
moving between Weekly R1 and S1.
RSI is showing some bullish divergence and until the trendline
is broken, price is expected to consolidate further.
Overall, price is expected to test the long term trendlines
within next month and thus will have to breach the Yearly
S2 at 1,2322.
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