malcolmlai

EURUSD H1 Analysis (Consolidation?)

FX:EURUSD   Euro / U.S. Dollar
Have a look at my analysis for the hourly on Euro-Dollar. It seems to have gone back into its consolidation channel where the market is subtlely indecisive. Let us wait and see whether the bulls or bears will win over the next few hours before having a clearer picture and better analysis.

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Comments

I think the bull still is winning. We have to look from the previous very long bottom wick yesterday meaning the market still semi bullish. I think it will hit 1.19-1.20 max then a true reversal! Also considering U.S LOW gdp, stimulus that will make HUGE unemployment because it is better than working (getting $600 a week), RISING covid, upcoming election. The market is still UP for some days! Prepare to sell at 1.19!! Cheers!
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malcolmlai samuelericsss
@samuelericsss, thanks for leaving a comment on the fundamental side of things as well. I have taken it into consideration and will update my idea over the next few hours... cheers!
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