EURDKK near support.
Selling until the descending baseline, while carefully placing a SL above the nearest high.
Bias will be bullish if it breaks above this 4-month-old resistance.
TP = 7.46776
SL = 7.47533
Soft macro data from France continues...
Markets are likely to want to test ECB willingness to shift into easing mode again so the downside risks for 1.09 remain in play for EURUSD. This will carry the rest of the EUR board.
A quick move in play here to kill the week off as we start the initial stages of a test in the lows at 0.745.
Best of luck all
The pair is trading on a 1D Rising Wedge evident on the mix of neutral (RSI = 48.902, CCI = -27.6714, Highs/Lows = 0.0000) and bullish (STOCH = 57.149, Willams = -42.264, Ultimate Oscillator = 53.080) indicators. This indicates a bullish price action but on a narrow space. Long, TP = 7.46300.
** If you like our free content follow our profile...