Yesterday bears pushed down the price and the daily close was 1.1649. Now we pay attention for the monthly price close and after that we will choose the price direction for EURUSD.
ForexTeam traders expect bulls pressure for the currency pair EUR USD with first Take-profit target on 1.1904 – 1.1910. This bulls pressure will be alive till the daily close price below price level 1.1732.
We kindly invite bulls in EURUSD till our first Take profit target! Welcome)
EUR USD bears are preparing the trap for bulls, if the daily close price does not reach price level at 1.1904, than ForexTeam traders see the opportunity to sell EUR USD with a target of 1.1646-1.1603.
According ForexTeam technical analysis we can say that EURUSD could test price area 1.2170, while this currency pair continues to hold over uptrend line at 1.1830, but if we take a look to USD index we can say that bears could press the price already from price level at 1.2050.
EURUSD H4 chart shows us possible H&S pattern in progress.
If bears take a control over the price on EURUSD, please pay attention on the following price levels:
1.1953 1.1915 1.1805 1.1760
All these price levels are possible (Stop-loss) breakup points.
here we are with the new USD index weekly report. ForexTeam traders think that at present time (august-september) it could be price rebound from support level 93.00, the same picture like in Dec. 2016 – Jan. 2017, but now from other side.
ForexTeam traders are watching now for USD Index consolidation and rebound pattern to develop. At the end of July 2017 we can expect one more leg down to support level 93, it is the lower edge of the band 93-100, developed from 2015. 95.10 – is the next resistance target for rebound from 93 support level.