The EUR/USD
has formed a breakout-pullback pattern over the 15 minute chart during this
Thursday’s session. The Euro versus the Dollar has been very volatile since the
Federal Reserve raised its interest rates, but it painted a dovish horizon for
its monetary policy during 2018. When the EUR/USD broke below the 1.1800 level,
it made a low at the 1.1770 level and pulled back to the 1.1800 level, which
could now act as resistance. If the price of the EUR/USD bounces to the
downside from the 1.1800 level, then it would be completing a breakout-pullback
pattern, but in order for the bearish trend to continue, the price must break
below the 1.1770 level.
Seems like it has room for further decline.
ReplyDeleteThank you for the analysis.
ReplyDeleteExcellent observation.
ReplyDeleteVery informative! Thanks.
ReplyDeleteThe pair remain bearish.
ReplyDeleteVery helpful and insightful analysis, excellent.
ReplyDeleteVery accurate analysis!
ReplyDelete