As I experience in the financial news the dollar is getting buried. Zero-interest rate environment and unlimited stimulus are not in favour of the dollar against limited stimulus EU zone package. But I do not like such a fundamental bullsit what I have made, so let me see the technical picture.
In my word, the EURUSD has reached the resistance zone in a five-wave movement. Upside there is a very limited place in the red zone, getting mature the bulls but the divergence he's not come yet. If a strong reversal pattern occurs then the dollar bulls will counterattack.
So be prepared for the reversal movement maybe after the next FED meeting(next Wednesday).
In my word, the EURUSD has reached the resistance zone in a five-wave movement. Upside there is a very limited place in the red zone, getting mature the bulls but the divergence he's not come yet. If a strong reversal pattern occurs then the dollar bulls will counterattack.
So be prepared for the reversal movement maybe after the next FED meeting(next Wednesday).
Comment:
31 of July daily candle seems to be a good bearish engulfing. Here is the reversal sign?