EURUSD & EURGBP Forex Outlook Video
Watch the Forex analysis video below and get all the important trading levels for EURUSD and EURGBP
Price peaked very close to the whole dollar amount of $1.13 This could be a beautiful resting point for price to top off at and start something new down the downside. This area is also inside a weekly and daily supply zone so again we have nice confluence of zone acting a major supply to possibly reverse the market direction. For the up and coming week I see price continuing to go sideways as long as price doesn’t break below 1.1105. If it does break below that point then I think it will start a new downtrend.
This week, price has made new highs and I believe a new uptrend is forming. This is a very interesting area to watch right now as price retests the new highs at .8866. If it breaks it the the new uptrend is confirmed however if it fails then the move to the downside could also be just as dramatic. For this coming week, I’m thinking that price will move to the upside however it would be nice to see a retest back down to .8700 first as this market doesn’t tend to trend hard for very long periods of time. As I look at the lower timeframes I’m seeing a bunch of weak resistance zones that I believe could easily be broken.
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