EURUSD Weekly Technical Outlook
The EURUSD market operation on the weekly time frame remains sideways. At present, the market operation is at the 78.6 fib retracement area of the bearish swing traceable to May 2021. Last week, market operation printed an indecision candlestick in the area.
The EURUSD price action on the daily time frame is sideways at the 1.17310 area. The area aligns with the 78.6 fib retracement area of the bearish swing traceable to May 2021. The 1.17810 area is the immediate horizontal resistance.
The EURUSD price action on the H4 time frame is consolidating within a rising channel (magenta). At present, price action is located near the lower channel trend line and in a bullish mode within the channel. Technically, we may see further northward price action within the channel.
I may be wrong. Trade safe and prosper.
KP
The EURUSD market operation on the weekly time frame remains sideways. At present, the market operation is at the 78.6 fib retracement area of the bearish swing traceable to May 2021. Last week, market operation printed an indecision candlestick in the area.
The EURUSD price action on the daily time frame is sideways at the 1.17310 area. The area aligns with the 78.6 fib retracement area of the bearish swing traceable to May 2021. The 1.17810 area is the immediate horizontal resistance.
The EURUSD price action on the H4 time frame is consolidating within a rising channel (magenta). At present, price action is located near the lower channel trend line and in a bullish mode within the channel. Technically, we may see further northward price action within the channel.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
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