EUR/USD 1.4334
EXPECTATION THE RISK SUPPORT AND RESISTANCE
Lack of liquidity yesterday made for a much muted trading session in the majors. Today should see liquidity return to the markets as traders return back from their holidays. The Euro is currently trading above its trendline from the 1.4406 high. If price can sustain itself above this trendline then the 1.4380 -1.4406 resistance zone is likely to be challenged.. As mentioned previously for more upside to be observed 1.4445 must be broken confidently for a challenge of 1.4719. However, if the pair breaks below its medium term and longer term up trending support lines (currently converging) and trades below 1.4050 then this serves as confirmation that the uptrend has reversed and traders should expect the Euro to sell off.
No comments:
Post a Comment