EURUSD: Harmonic Pattern at 2-Week Demand Zone
EURUSD has retraced for the past 2 weeks and is currently in the midst of completing the second wave of retracement.
EURUSD H1: Price break below current week low but faces strong demand
Alright, so EURUSD did not hold and went on to break the current week low, which is Good! Last week, the price broke above the top of a 18-month falling channel around 1.1100 which potentially means that many sellers are trapped around the same level.
Pre-NFP Outlook on EURUSD
Despite the fact that EURUSD failed to drop from the top of the range at 1.1090, the fundamental direction does not necessarily changed. Dollar may be facing some weaker economic data recently but euro is just...weak! Unless price shoots up and break beyond 1.1170, we will only look to sell at a higher price. EURUSD D1: Price approaching the top of 18-month falling channel for retest So, ADP has turned out much weaker than expected but I would suggest to leave that aside and focus on the upcoming actual NFP data.If the actual data stays within the range of the previous and consensus, or higher than the consensus, EURUSD most likely will resume downtrend.
Gold H1: Price may Retrace one more Bearish Wave before resuming Bullish Trend
While ADP has turned out surprisingly weak, the gold faced resistance and failed to gain further.As such, the market is most likely to wait for the actual NFP data this…
EURUSD D1: Repeating Pattern at Top of 17-Month Falling Channel
Last week, EURUSD broke out from a minor range and fell towards the previous low at 1.1000 area.Yesterday and up till now, there's obvious support which may cause the price…