EURUSD Weekly Technical Outlook
Although the EURUSD market operation on the weekly time frame printed a bullish candlestick last week, the market operation is still in consolidation.
The EURUSD price action on the daily time frame is sideways. On Wednesday, price action printed a moderate bullish candlestick. But on Thursday and Friday the price action printed indecisions candlesticks. The price action is located just below the 78.6 fib retracement area of the bearish swing traceable to May 2021
The EURUSD price action on the H4 time frame turned sideways towards the end of last week after a bullish correction. We may still see further northward movement this week, but as the price action is located just below the 78.6 fib retracement area of the bearish swing traceable to May 2021 we should not be surprised to see some bearish challenge.
I may be wrong. Trade safe and prosper.
KP
Although the EURUSD market operation on the weekly time frame printed a bullish candlestick last week, the market operation is still in consolidation.
The EURUSD price action on the daily time frame is sideways. On Wednesday, price action printed a moderate bullish candlestick. But on Thursday and Friday the price action printed indecisions candlesticks. The price action is located just below the 78.6 fib retracement area of the bearish swing traceable to May 2021
The EURUSD price action on the H4 time frame turned sideways towards the end of last week after a bullish correction. We may still see further northward movement this week, but as the price action is located just below the 78.6 fib retracement area of the bearish swing traceable to May 2021 we should not be surprised to see some bearish challenge.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money