EUR/USD Price analysis: Bulls eye an upside continuation towards 1.1070 EURUSD Technical Analysis
Zooming into the 4-hour charts, we had the M-formation with a test of the neckline resistance near the 1.1030s eyed before a strong test of the trendline support. An engulfment was eyed.On the hourly chart, the thesis was playing out. A 61.8% Fibonacci retracement met the neckline resistance. Everything above was trapped volume, so the long squeeze thesis was a reasonable one into 1.0950s stops and the week´s lows.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Weekly Forex Forecast \u2013 NASDAQ 100 Index, EUR/USD, GBP/USD,The difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week.
Read more »
EUR/USD: Weekly Forecast 30th April - 6th MayThe EUR/USD finished near the 1.10165 mark going into the weekend.
Read more »
Pairs in Focus This Week \u2013 GBP/USD, EUR/USD, Gold, USD/CADGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of April 30th, 2022 here.
Read more »
Student among 3 hurt after parent discharges chemical spray during Chicago Bulls College Prep fightStudents were released for the rest of the day after the school was temporarily locked down, officials said.
Read more »
Parent charged after starting fight, sprays pepper spray at Chicago Bulls College PrepThe parent was escorted out of the building, and was then arrested by Chicago Police, the school said.
Read more »
Parent charged with using chemical spray during Chicago Bulls College Prep fight: policeA student was among three people injured during the fight that prompted a school lockdown at 2040 West Adams Street.
Read more »