EUR/USD - Euro Remains Undecided Following Last Weeks Activity

Published date: 03/06/2018
214 views
 
 

Euro closed in an indecisive manner last week with lows of 1.1511 being tapped. Momentum is most definitely bearish and we saw last week's lows being reached once more over the coming few days. 

My personal preference is to short the pair into next week if the 1.1650 level is broken on the H4 timeframe. What's more is that the weekly resistance: 1.1725 held firm on Friday, meaning a new bearish leg could well form on the H4 timeframe.

Ultimately, as the US Dollar strengthens, EURUSD could sink to the 1.1450 level which is a critical monthly support level that should most definitely be noted.

The highlighted region of 1.1573 is a strong Fib level to be aware of. Euro May respond to this level in an aggressive manner this week and may cause a pullback to occur in the midst of the trend continuation. The daily closure Monday/Tuesday will paint a clearer picture of what’s ahead. 

This week President Trump implements the metals tariffs - as of midnight 01 June - there are fresh concerns for the global economy as a whole as fears of a trade war are reignited. Due to this, there could be a potential flight to safety as rate differentials are knocked down the pecking order.


Comments

  • EUR/USD - Euro Remains Undecided Following Last Weeks Activity
    Fidan says:
    06/06/2018

    Euro/usd 1.17510 hahahah

  • EUR/USD - Euro Remains Undecided Following Last Weeks Activity
    Grant says:
    05/06/2018

    Fundamentals created much confusion with EURUSD, 1.1725 has been tested multiple times showing its importance. A break above 1.1725 will indicate longs potentially to 1.18400 and a break below the 1.16500 level will take us potentially to the 1.15200 area

  • EUR/USD - Euro Remains Undecided Following Last Weeks Activity
    Grant says:
    05/06/2018

    Yesterday we printed a shooting star on the 4hour which rejected 1.17257. which is a sign we may be going down. the break of our ascending trend line will confirm shorts to the 1.15200 region.

  • EUR/USD - Euro Remains Undecided Following Last Weeks Activity
    Radim says:
    04/06/2018

    1.17350 area held, we could expect potential downside movement to 1.16500, For bullish move we have to see first 1.17350 area to be broken.

  • EUR/USD - Euro Remains Undecided Following Last Weeks Activity
    Josh Daley says:
    04/06/2018

    Looks like EUR/USD is going to go back up to retest zone 1.17300 before heading bearish back down to zone 1.15300. Area 1.17300 is daily fib zone 61.8 to be retested will wait for bearish candles before going in for short.

  • EUR/USD - Euro Remains Undecided Following Last Weeks Activity
    Grant says:
    04/06/2018

    What about the daily bullish engulfing pattern that was created on the 30 May, which respected the rising support line from the lows of 2017/01/03. Could it be possible this pair may see a pullback once 1.17180 is broken to 1.18400 and then even 1.19250?

Leave a Comment