False break back into the range

FX_IDC:EURUSD   Euro / U.S. Dollar
206 2 4
Well this chart is just my simple analysis on the euro             . It broke above the range only to be sold back lower so it seems as if we can test the lower area of the range this coming week. So I'm on the sidelines until the euro             pushes a bit further lower.

Cheers =)
can the euro usd keep going down till 1.08 or will it rebound any time around 1.10..
+1 Reply
Daniel.B abdelegdali
Hi thanks for the question, the euro can potentially continue down to the 1.08 area, but nobody can say with absolute what it will do in the future.. At the end of the day its all probabilities. But yea the 1.10 area is an area of minor support which could potentially be a turn around area for the euro, but it's to early to tell.. We will have to wait for price to reach that area and form some type of bullish entry confirmation on a Daily chart. I'll try my best to keep the analysis updated on this post! =)
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