Technical outlook: Bearish with an initial bullish correction
- We see a dollar correction and reversal at the start of the week with price likely to re test the 1.1435 support turned resistance level.
- Technically speaking, the EUR has now hit the 127 extension level of Septembers bear run and has a few hurdles to jump over should it want to run higher (Dec 16 TL, 1.1435 level, 4hr bear TL, 1.1530 level)
- We see a dollar correction and reversal at the start of the week with price likely to re test the 1.1435 support turned resistance level.
- Technically speaking, the EUR has now hit the 127 extension level of Septembers bear run and has a few hurdles to jump over should it want to run higher (Dec 16 TL, 1.1435 level, 4hr bear TL, 1.1530 level)