Overall price is a downtrend. However there is potential retracement to the 1.09 area. Price is currently sitting on a strong resistance that dates back couple of years and on fibo extension. Down trend will resume after retracement to the 1.07 area. Currently EurUsd is extremely oversold. NB On other hand Anything is possible in forex price may continue its...
Price is moving to the upside. We can expect a three wave movement. With second movement being a pull back before further upside. Watch price action for shorts. Bulls are exhausted and the pair has been overbought approaching various resistances and 68.2 fibo retracement in the 1.12 area.
Price action is in an uptrend channel touching the bottoms of the channel in Jan 2019 and Jul 2019 and touching the uptrend channel tops in Dec 2018, Jun 2019 and now Aug 2019. Overall pattern is in the form of inverted head and shoulders. We expect potential retracement in the 15.3/15.6 area for a move to the downside. Dont miss the move !!!. Good luck
Descending channel with strong support dating August 2017,November 2017, August 2018 , November 2018 and possibility to hit the channel again in August 2019. If price hits the channel ie support level we looking for a short term move to the upside.