In our past analysis, we correctly forecasted that EURUSD will start a bullish move that will reach the orange trendline. For this week, we are expecting one of two scenarios to unfold:
1. It will either consolidate above/underneath the trendline and it will reach the resistance; 2. It will depreciate and break the $1.17 low. We incline towards the second outcome.
Keep in mind that the pair could be affected by Friday’s NFP data. We advise caution in the coming week. Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.