EURUSD made a move up after pulling back to a weekly support level last week as we had anticipated and was looking bullish.
However on Friday we saw a rejection of the resistance level above, indicating a likely move back down to retest that weekly support level. What will happen after that is unclear at this stage.
Our preferred scenario would be a retest of the weekly level followed by a buy signal to go long.
However on Friday we saw a rejection of the resistance level above, indicating a likely move back down to retest that weekly support level. What will happen after that is unclear at this stage.
Our preferred scenario would be a retest of the weekly level followed by a buy signal to go long.