![]() If the pair makes a weekly close above 1.1760, then the door to 1.1816 could be open next week. Bear in mind that today is Friday, so we could see a profit taking. Targets are Pivot confluence points 1.1724 and 1.1758, with a possible extension to 1.1816 if we see a close above 1.1760. The aforementioned exits are all designed to go flat from either a long or short. 1.1635-50 is the POC zone, and any pullback to the zone might be used for fresh buying. Learn how to build robust and effective breakout trading strategies. This is the bullish formation with explicit support and resistance levels that traders should monitor. Technically the EUR/USD is bullish, as it is breaking above the ascending flat top triangle, which suggests bullish continuation. The Refi rate is still 0%, while the deposit rate is at -0.4%. What is also important is that the rates are put on hold. ![]() Mr.Draghi, the ECB president, explained that rising protectionism, vulnerabilities in emerging markets, and financial market volatility had “gained more prominence.” There is still a fear of a potential escalation. The ECB lowered its projections for economic growth, and warned about potential dangers with the US-China Trade War. ![]() The EUR/USD edged a bit higher after Thursday’s ECB Meeting.
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