EURUSD Forecast And Technical Overview: Sell the throwbacks
Fundamentals: As we have mentioned in our previous analysis, news from Italy and Greece puts EURO under bearish pressure. Italy-German bond yield spread and US-German yield differential are the factors pushing the pair down. As of writing, the 10-year US Treasury note is yielding 270 basis points more than German part, the highest since 1981.
Technically: The pair is trading at 1.14670 as of writing. On the daily chart, RSI is showing further drop signals since it is still not reporting oversold conditions.
On the smaller chart timeframes, we have a bullish Nen Star Harmonic Pattern for a minor correction at 1.14510 – 1.14440. After a possible retracement towards 1.15100 it is likely to see the pair testing 1.14100 support.
Our Longterm forecast for EURUSD is 1.12000- 1.10000, the estimated completion date is November 16th.
Intraday signals and trade opportunities will be published for the members
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Technically: The pair is trading at 1.14670 as of writing. On the daily chart, RSI is showing further drop signals since it is still not reporting oversold conditions.
On the smaller chart timeframes, we have a bullish Nen Star Harmonic Pattern for a minor correction at 1.14510 – 1.14440. After a possible retracement towards 1.15100 it is likely to see the pair testing 1.14100 support.
Our Longterm forecast for EURUSD is 1.12000- 1.10000, the estimated completion date is November 16th.
Intraday signals and trade opportunities will be published for the members
Visit our web for more
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