https://www.getknowtrading.com/eurus...1368-expected/
The breakout was a false one on Tuesday and what usually happens after a false breakout the price moved in the opposite direction.
Friday shows price decline after traders taking profits around $1.01368 who bought the price at the $0.99314 which activated a sell off returning the price down.
Next week we need to see the price above the small downtrend channel resistance line with daily close above which will allow price reaching $1.01368 level.
We can expect bearish candle at the confluence area of resistance with price targeting to reach the upper side of the current indecision area which is around $1.0000.
Currency strength meter
Inserted Video
The breakout was a false one on Tuesday and what usually happens after a false breakout the price moved in the opposite direction.
Friday shows price decline after traders taking profits around $1.01368 who bought the price at the $0.99314 which activated a sell off returning the price down.
Next week we need to see the price above the small downtrend channel resistance line with daily close above which will allow price reaching $1.01368 level.
We can expect bearish candle at the confluence area of resistance with price targeting to reach the upper side of the current indecision area which is around $1.0000.
Currency strength meter