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EURUSD, as expected, rebounded from the lows and reached strong resistance level of 1.2580 in today’s session. This would complete the triangle of flag pattern and suggest that downtrend would be resumed. We expect this market to make another multiyear lows in the coming weeks. In the long run, downside could be limited to 1.20 from where EURUSD should take a turn...
It seems that EURUSD could have some upside steam after breaking out of long lived consolidation pattern. As the mid-long term downtreand must be assumed, the pair could find some bid. Any close below the recent triangle would suggest further decline.
Aussie presents a nice setup towards the end of the week. As the pair is in downtrend, short positions are more likely from the current levels. Correction is possible towards 0.8890
There was no much movement in this market since the last update. EURUSD keeps to consolidate around the current levels.
The pair created a clear triangle and it’s ready for a move. As the downtrend is intact, short positions are recommended.
The break below 1.2410 would suggest more downside towards the nearest support at 1.2360.
There is a possibility that the...
