EURUSD- Weekly Forecast 6th - 10th May
EURUSD has climbed strongly but got rejected at 1.126 which led it to fall for another 2 days.
However, the dollar plunged and pushed EURUSD up again and the week ended with a bullish candle.
Based on the structure, the price could be forming an ABCD which will be completed within a supply zone at 1.1300.
But just before that, the price should face some resistance by a falling trendline at 1.1230.
So, if the price were to fall at first in the first 2 trading days but managed to maintain above 1.1170, it will provide a good opportunity for a short-term long.
If the price continues to climb at first, we will keep a lookout for a breakout of the falling trendline at 1.1230, and keep waiting for a selling opportunity only when it reaches 1.1300.
However, the dollar plunged and pushed EURUSD up again and the week ended with a bullish candle.
Based on the structure, the price could be forming an ABCD which will be completed within a supply zone at 1.1300.
But just before that, the price should face some resistance by a falling trendline at 1.1230.
So, if the price were to fall at first in the first 2 trading days but managed to maintain above 1.1170, it will provide a good opportunity for a short-term long.
If the price continues to climb at first, we will keep a lookout for a breakout of the falling trendline at 1.1230, and keep waiting for a selling opportunity only when it reaches 1.1300.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.