The EURUSD did little last week to inspire a decision one way or the other. The pair continues to bounce between 1.1100 and the 1.1250 area with no clear indication of future direction.
Technically speaking, the single currency carved a bearish engulfing pattern on the weekly chart. With that said, it wasn’t the most convincing close if you’re a bear given the 50 pip rally just before the weekend.
One thing to note is how the 1.1250 area held as resistance during Wednesday’s session. This is a former resistance level that gave way to buyers on June 2nd and held as support for a brief period. However, the June 8th close negated the bullish breakout to some degree.
Daily Price Action 43836 Laburnum Sq Ashburn, Virginia 20147 United States (240) 778-3679
We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.
Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at [email protected]
Follow us on twitter @newsbeatportal
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535
Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.