EURUSD OUTLOOK

2 Ağu 2020

EURUSD - OUTLOOK

Monthly time frame
Price reached a key zone, this downtrend has been in place since Aug 08. On top of that, we have some signals supporting the relevance of this price level.

• 
  Price level:
  Strong downtrend
  Resistance level
  Fibo retracement 0.618
  Ema 100 - Working as resistance
  

https://www.tradingview.com/x/Q0KuNkVu/

For sure is a tough zone, the price has been rejected and will retest the 1.19 level.
Zooming in on the daily time frame, we see a false breakout, the RSI overbought with, and bear strong candle rejecting the price out.
We need to see where the markets will move, personally I think the price will retest the 1.19 level and bounce back to 1.15 1.14 level bringing us a buy opportunitIes.


I will be looking for trend reversal signals to short or wait for the breakout to go long. For sure it is an interesting zone to look at.


Wish a good week to all of us. Peace!!!

2 Ağu 2020

Not

2 Ağu 2020

Not

tradingview.com/chart/9JaSjrJn/