EUR/USD currency market long view for profit
Posted: Mon Jul 31, 2017 9:08 am
The rally in the EUR/USD could be unstoppable in a mid-term view, as the pair needs to do another leg higher before to being offered by the sellers. The weekly chart is showing that the common pair is near to reach the 200 SMA, & coincides with the 38.2% Fibonacci retracement level. If that zone gives up, the pair could rally towards 1.2161 (50%) and there it could resume the bearish bias.
For the short-term, the pair could enter in a consolidation phase between the 1.1800 and 1.1500 levels.
Now Looking reversal down and after that again go up..