EURUSD H4 Analysis. Due to risk off sentiment in the market we have seen a heavy sell off in EURUSD. EURUSD is consolidating at the moment.
At the current support there seem to be bullish divergence formed and likelyhood of head and shoulders formation (yet to complete). Break of the trendline will target the nearest resistance. Hence, break above the resistance will pave way for more movement to the upside to 1.17500 round number after possible retest of the resistance which will serve as its support. Above 1.17500 will target the major resistance zone. Break below the current support will send the pair down to 1.14300 or more. Overall trend is down.
The economic calender based on forexfactory.com is light (No much high impact news.) Mostly medium to less impact news. However, expect anything in the markets.
The economic calender based on forexfactory.com is light (No much high impact news.) Mostly medium to less impact news. However, expect anything in the markets.