Two bearish scenarios and one strong bullish one
EURUSD was pressed to the bottom of its Gartley pattern's PRZ (blue) last week.
The Dollar strength crashed the EURUSD on Friday almost to the breakdown point - below 1.1.
If the Dollar's momentum will continue also on Monday, EURUSD may break below 1.095 and continue lower towards 1.075-1.08 to complete a bigger bullish pattern (green) - Gartley pattern.
Pay attention to Draghi's speech on Monday and to ECB meeting this week.
I've marked two bearish scenarios for the week - The first is the breakdown scenario (trigger with a close below 1.095) and the other is following a short term bullish pullback.
THE bullish scenario for this week (and for the near term future) is the completion of a bullish Gartley near 1.08 should EURUSD reach there
The Dollar strength crashed the EURUSD on Friday almost to the breakdown point - below 1.1.
If the Dollar's momentum will continue also on Monday, EURUSD may break below 1.095 and continue lower towards 1.075-1.08 to complete a bigger bullish pattern (green) - Gartley pattern.
Pay attention to Draghi's speech on Monday and to ECB meeting this week.
I've marked two bearish scenarios for the week - The first is the breakdown scenario (trigger with a close below 1.095) and the other is following a short term bullish pullback.
THE bullish scenario for this week (and for the near term future) is the completion of a bullish Gartley near 1.08 should EURUSD reach there
