Here is a quick breakdown on my EURUSD analysis.
Over here we are long on the EURUSD however we have failed to have a trend
continuation which has lead the euro to fall and break below our lower trend line but
we have also failed to create a new higher higher. indicating a change of direction.
As we can now see a new potential channel has been formed which is currently holding and
test our r1/ resistance level. If we can see a break above this level we should expect to see price rally
up to around r2 / resistance .
Over here we are long on the EURUSD however we have failed to have a trend
continuation which has lead the euro to fall and break below our lower trend line but
we have also failed to create a new higher higher. indicating a change of direction.
As we can now see a new potential channel has been formed which is currently holding and
test our r1/ resistance level. If we can see a break above this level we should expect to see price rally
up to around r2 / resistance .