The EUR/USD expectedly spiked from Friday, making another push to the upside. For all of you who follow me and my analysis, you know that Id short only
The EUR/USD expectedly spiked from Friday, making another push to the upside. For all of you who follow me and my analysis, you know that Id short only below 1.0820. We have been having buying the dip scenario since the retail gap has been formed. 1.0880-1.0900 (W L3, ATR low, EMA89) is the POC for long trades. The interim resistance is 1.0950 and if it gets broken, the EUR/USD should target 1.1000. Finally, if the price breaks and closes above 1.1000 we will see a failed head and shoulders pattern and EUR/USD could spike to 1.1110.
Only if the price drops below 1.0819 we could see a momentum towards the retail gap close at 1.0730.
EUR/USD 4H Chart
Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets
