TradingView
hunnndini
Jun 9, 2019 8:04 AM

[EURUSD] LONG Long

Euro / U.S. DollarFOREX.com

Description

The Euro hasn't broken a previous high in over a year and this past week the Euro flew through the previous high and is right at the high before that, looking strong to do the same. The Euro has a negative correlation with the Dollar and the Dollar looks extremely weak especially after this past NFP was not good at all.


I have marked a current range we could go into next and if we do range for a little or break the purple trendline, I see the Euro going back towards Jan. - Feb. '18 highs.

Comment

This weeks price action will determine where the Euro goes. It could reject this high pretty hard since we are a bit oversold on the RSI. That is the only factor I see in this. If it comes back under the red line it could fall the recent support.

Comment

Comment

Re-Test Trendline and previous high?
Comments
DACapitalTrading
great great! I will follow you now! Leave a like on my Profile aswell buddy :)
More