EURUSD (Weekly Outlook) - Will the support hold?
Price has tested the 50% retracement as predicted and fallen through to test the (Red) Median Line. Did not reach 1.166 area as forecast.
Looking back, the (Red) Median Line has provided good support since 08-2017 period. Expecting the support to hold and price to claw back up to the 50% retracement (around 1.1877).
S/L at 1.1717 region of the recent low.
Downside risk: If price breaks the recent low, expecting EURUSD to start sliding. Will be a good ride down!
Looking back, the (Red) Median Line has provided good support since 08-2017 period. Expecting the support to hold and price to claw back up to the 50% retracement (around 1.1877).
S/L at 1.1717 region of the recent low.
Downside risk: If price breaks the recent low, expecting EURUSD to start sliding. Will be a good ride down!
