I think this market is going to make another rally and hit 1.79 once again. The EUR is still relatively strong and the NZD is the weakest one of the majors. The pair's been showing some signs of weakness though, as the resistance at 1.8 proved to be very strong indeed, not allowing price to penetrate this level. Caught in a range, it seems to be drifting to the right side, and dwarfed by the huge Aug-24 bar it seems unable to make any progress to the up side. It may still go lower a bit, but then I'd expect it to find support at 1.75-ish level and make another leg up.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
