at 1,1060/Monthly R1 & Kijun Sen at 1,1110/Yearly PP at 1,1140. Support is the 1,08 level with the Monthly PP at 1,0810 which was tested during the week
and gave support. Clarification Closes: side a Weekly close above Yearly S1 1,1140 or at least Monthly R1 at 1,1110.
side a close below Monthly PP at 1,0810.Note that a Monthly close above Weekly PP will give more
fuel to the upside.
S&P 500 made a Weekly Piercing line at the Yearly S1. Risk for a bounce.
If we see strong sell off in stocks, we may see more sideways action or probing higher.
If we see a strong bounce and Risk-on, the EurUsd may drop and may do so strongly, since we see signs of Dynamic
Pressure, i.e Monthly/Weekly/Daily crosses but it is not reflected in price action which is still contracting.
The is still valid but is moving slowly.