Although the Euro closed above 1.1850 but not long enough till it had followed by a bearish engulfing pattern around the same region on the 4H chart. In the meantime, the Euro may face a bit of resistance and perhaps meet 1.1795 which what I call it a minor support in the short time frame.
With that being the case, a supportive candle around 1.1795 might drive the buyers to go higher since the level also meets the 50 EMA on the daily time frame. however, a close below that range could take the Euro lower back to 1.1690.
The big picture of the Euro is bullish, i believe giving enough time we might reach 1.20 as i consider it a mid-term target.
With that being the case, a supportive candle around 1.1795 might drive the buyers to go higher since the level also meets the 50 EMA on the daily time frame. however, a close below that range could take the Euro lower back to 1.1690.
The big picture of the Euro is bullish, i believe giving enough time we might reach 1.20 as i consider it a mid-term target.