Euro against the dollar has been quite bearish as of late due to Trump and Kim's feuds,Hawkish comments and tax policies . The reversal formed last September was due to price rejection on the daily time frame, a very strong demand price area . We can also take note of the head - shoulder formation which supports bearish momentum into the new year.
Currently the EUR/USD is consolidating and we should see a continuation of the downside. EU will test the 20 and possibly the 50 ema before dropping down to a take profit of 1.14808.I would be looking for a bearish pin bar on one of the two resistance E.M.A
Take note of the LH & LL formation.
Exercise patience.
Currently the EUR/USD is consolidating and we should see a continuation of the downside. EU will test the 20 and possibly the 50 ema before dropping down to a take profit of 1.14808.I would be looking for a bearish pin bar on one of the two resistance E.M.A
Take note of the LH & LL formation.
Exercise patience.
Inverse correlation