EURUSD: Weekly Forecast 20210704
EURUSD fell through the week but rebounded off from the key demand zone at 1.18 after and despite a highly positive NFP.
That goes to show that the market has bought the news and is selling the facts where we can now expect more bullish momentum.
While the price failed to break above the previous day high, it did break above a falling trendline in the H1 chart.
Additional, this could very well be the final wave of a bearish elliot wave.
This week, we expect EURUSD to follow through with its rebound and will be waiting for a pullback towards 1.1850 to look for a buying opportunity.
Should the price failed to garner enough interest to buy, we will aim to buy deep into the demand zone at 1.1760, right at the bottom of a 8-month symmetrical triangle.
That goes to show that the market has bought the news and is selling the facts where we can now expect more bullish momentum.
While the price failed to break above the previous day high, it did break above a falling trendline in the H1 chart.
Additional, this could very well be the final wave of a bearish elliot wave.
This week, we expect EURUSD to follow through with its rebound and will be waiting for a pullback towards 1.1850 to look for a buying opportunity.
Should the price failed to garner enough interest to buy, we will aim to buy deep into the demand zone at 1.1760, right at the bottom of a 8-month symmetrical triangle.
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