After US Dollar had lost some strenght we have seen some parabolic moving up in Euro. Currently price is sitting above weekly resistance (green line) and for continuation of movement upwards it is crucial to break next resitance (red line) or to accumulation above mentioned support zone. If we see movement downward then it is possible that we could see rejection from trend line (white line). If it breaks below trend line that could indicate bearish signals for Euro, closing below green dashed line would be more bearish.
Price predictions that I drawn on the chart does not represent real prediction of the price in given time interval and does not show exact points where I think that price will go. It shows one of the possible price moving in general.
This is not financial advice and I am not a financial advisor. It is important to do your own research and make your own opinion before getting into any trades or financial investments. You are responsible for all your trades and all win and lose results, so manage your risk according to your financial situation. Don't invest money which you are not ready to lose.
Price predictions that I drawn on the chart does not represent real prediction of the price in given time interval and does not show exact points where I think that price will go. It shows one of the possible price moving in general.
This is not financial advice and I am not a financial advisor. It is important to do your own research and make your own opinion before getting into any trades or financial investments. You are responsible for all your trades and all win and lose results, so manage your risk according to your financial situation. Don't invest money which you are not ready to lose.
Trade active:
We have seen rejection from the resistance (red line) and now it is possible that we could see accumulation here before next testing of resistance or even before testing trend line or support line.
Trade closed manually:
New analysis for this setup:
