Should we see a break above 1.1480 then the pair gets heavily bearish as there are no major resistance above that level and price will react strongly to this lack of limitations.
Chart: EUR/USD D1
Tuesday, April 12, 2016
EUR/USD Sideways
The EUR/USD is going sideways since the beginning of the month hinting that a possible turn to the downside is at hand. The price has been range bound between 1.1350 and 1.1450. Currently, price is 1.1425. A break above 1.1480 would invalidate potential correction to the downside, but for now market sentiment remains bearish with first target 1.1320 and a second target 1.1290.
Should we see a break above 1.1480 then the pair gets heavily bearish as there are no major resistance above that level and price will react strongly to this lack of limitations.
Chart: EUR/USD D1
Should we see a break above 1.1480 then the pair gets heavily bearish as there are no major resistance above that level and price will react strongly to this lack of limitations.
Chart: EUR/USD D1
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Looks like is making a rising wedge.
ReplyDeleteGood analysis, I will keep it in mind.
ReplyDeleteIt looks like a rising wedge to me too.
ReplyDeleteThe rising wedge was followed by a strong reversal.
ReplyDeleteDownward correction extended.
ReplyDeleteGood post.
ReplyDeleteAgree with the post
ReplyDeleteGreat analysis! Congratulations.
ReplyDelete