FxWirePro

Buying interest in EUR/USD range but 23.6% fibo stiff resistance

FX:EURUSD   Euro Fx/U.S. Dollar
532 2 6
EURUSD             swings are evidencing range between 1.1050 - 1.0709.

We can see some bounces in the weeks to come but should not exceed 1.1050 in short run, 1.1261 a stiff resistance should be held tighter just in case 1.1050 breaks above.

2015 has not been that bad for EURUSD             as it has shown sideway trend unlike previous steep slumps but worry remains lingering around EURO             whether this rigid price action to show bounce back is sustainable from here onwards.

Leading oscillators converge according to every price dips and rise, so as we say in the beginning though it may bounce in short run, our worry remains at 1.1261. We can dubiously begin being bullish on confirmation after the decisive breach above 1.1261.

Long term investors initiating longs in this pair at this juncture is not a wise and safe idea as the price is well below 21DMA and no proper clarity in this bullish swings, hence it should not be deemed as a reversal pattern.

Therefore, the scene here is for swing trading set-up, short term bulls are on but anytime bears can be active for long term more downside potential.
TradZ
a year ago
Sounds about right to me:)
Reply
SSSDEV
a year ago
swing trading set-up good
Reply
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