EURUSD POSSIBLE SETUPS
EURUSD is still technically in an UPTREND until July till now that price has been chopping back and forth trying to make a decision of which direction to pick, i think things are happening around the US dollars, i mean the US election, amidst COVID-19 recording more cases and the likes.
We've to keep in mind the multiyear wedge pattern on EU which price is still trading above, and now i seems to have a new outlook of price movement from July until now, i think price is forming a BULLISH flag and now price is heading to the resistance zone @ 1.1920 zone.
Rejection will set price lower possibly make a third touch of the FLAG lower line so target will be at 1.1600 ; 1.1550 zone
WHILE a break above the FLAG will definitely set price higher with next at level of resistance around 1.2500 zone.
So i think it's worth keeping it cool with USD pairs to see what the election result will bring forth, and let those pairs pick clear sides or direction before jumping on them.
We've to keep in mind the multiyear wedge pattern on EU which price is still trading above, and now i seems to have a new outlook of price movement from July until now, i think price is forming a BULLISH flag and now price is heading to the resistance zone @ 1.1920 zone.
Rejection will set price lower possibly make a third touch of the FLAG lower line so target will be at 1.1600 ; 1.1550 zone
WHILE a break above the FLAG will definitely set price higher with next at level of resistance around 1.2500 zone.
So i think it's worth keeping it cool with USD pairs to see what the election result will bring forth, and let those pairs pick clear sides or direction before jumping on them.
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