EURUSD Potential resistance

FX:EURUSD   Euro / U.S. Dollar
After forming a morning star 2 weeks ago, upside potential still present though minimal. Potential sell set up between 50% fibo and 61.8% fibo retracement from Mar 16 low. Presence of 50 day moving average within the price range acts as additional area of resistance. Volatility expected in the coming days therefore chances of prices moving up to 1.10 might be a possibility. However, it may just be the needed signal for a downward reversal.
EURUSD shot through the rough following shock in US 1st quarter GDP. Need to re-evaluate current market pressures
long opportunity form now.
JonathanWong Philson-Investments
Yup, upside does look attractive in the coming days. That is why i am looking between high 1.09 and 1.10 for short opportunity. As of now, I am flat.
+1 Reply
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