theangelwing

Next Week Focus on EURUSD

FX:EURUSD   Euro / U.S. Dollar
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Two days rally on EURUSD meets first selling interest at around 1.3043 and manage to drag the pair down and closed below 1.3 big figure.

This pair may try to range next week on early monthly open inside 1.316-1.277 and inside 1.304-1.286 in the smaller scale with monthly trend still ranging on a weak downtrend.

Trade focus for this pair next week would be on Thursday ECB Interest rate decision expected to be uncut followed by ECB Monetary policy statement and press conference, as a usual I'd expect an up down spike around these hours. and for longer term I'm not expecting this pair to go above 1.4 except if ECB increased its interest rate.

from my chart above, EURUSD have tight resistances above by price action around 1.3136, 1.3151, and 1.3174 while support levels are around 1.2777, 1.2818, and 1.286, a clear break out of these levels may confirm the further movement of this pair.
nice chart!
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