Morning Technical Newsletter EUR/USD
EUR/USD:
Let's check Eur/Usd the most tradable forex pair.
Weekly perspective:
Last week pair moves from the high 1.1815 to the low 1.1570 so in the range of 240 pips. At the and of the week we have formed BEOB candle as strong signals for more bearish trend for this week.
Daily perspective:
As we already said that we have BEOB on weekly chart we also have, BEOB on four days ago on the daily chart, so we have a really strong downside trend. For the next target, we can have a support at 1.1530 (60 pips).
Areas of consideration:
We can look for a short position on the first two resistance mentioned below:
Resistance 1: 1.1620
Resistance 2: 1.1650
For the targets we can use the first two supports mentioned below:
Support 1: 1.1570
Support 2: 1.1530
Today’s data points: German retail sales m/m; FOMC member Bostic speaks; US ISM manufacturing PMI.
Let's check Eur/Usd the most tradable forex pair.
Weekly perspective:
Last week pair moves from the high 1.1815 to the low 1.1570 so in the range of 240 pips. At the and of the week we have formed BEOB candle as strong signals for more bearish trend for this week.
Daily perspective:
As we already said that we have BEOB on weekly chart we also have, BEOB on four days ago on the daily chart, so we have a really strong downside trend. For the next target, we can have a support at 1.1530 (60 pips).
Areas of consideration:
We can look for a short position on the first two resistance mentioned below:
Resistance 1: 1.1620
Resistance 2: 1.1650
For the targets we can use the first two supports mentioned below:
Support 1: 1.1570
Support 2: 1.1530
Today’s data points: German retail sales m/m; FOMC member Bostic speaks; US ISM manufacturing PMI.
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