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A sign of Reversal EURUSD


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On 11/12/2021 at 20:16, YEW_Trade said:

Price pattern shows EURUSD has a very high chance of reversal. 

Head and Shoulder pattern has been formed. 

987D8814-A6FB-44A6-A52B-FD8FD2A7B134.png

Hi @YEW_Trade

Thanks for sharing your analysis on EURUSD.

EUR/USD TECHNICAL ANALYSIS

EUR/USD has been range bound for close to a month now, caught between 1.11861 and 1.13830.

This sideways price action has seen the short-term simple moving average (SMA) crossed several times. The 10 and 21-day SMAs remain very close to the price.

However, medium and long-term SMAs remain above the market and maintain a negative gradient. This might suggest that near-term momentum is in a state of flux, but that medium and long-term momentum could see bearishness unfold.

Support may lie at the previous lows of 1.11861 and 1.11682. On the topside, resistance could be at previous highs and pivots points of 1.13830, 1.15245, 1.16694 and 1.16922.

EUR/USD CHART

Chart created in TradingView

Written by Daniel McCarthy, Strategist for DailyFX.com

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On 11/12/2021 at 20:16, YEW_Trade said:

Price pattern shows EURUSD has a very high chance of reversal. 

Head and Shoulder pattern has been formed. 

987D8814-A6FB-44A6-A52B-FD8FD2A7B134.png

Hi @YEW_Trade

EURO PRICE HINGING ON ECB POLICY

With the Federal Reserve, the European Central Bank, the Bank of England and the Bank of Japan all meeting on monetary policy this week, forecasting the strength or weakness of EUR/USD, do you predict and view that it will push upwards on Euro fundamental forecast ?

 

All the best - MongiIG

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