EURUSD Technical Outlook

⭐️Key Takeaways⭐️

✔️ Daily Bearish Engulfing still a valid clue
✔️ Better than expect Core Retail Sales
✔️ Upside seems to be limited to 1.19
✔️ Still no additional stimulus from the Fed

⭐️Technical Analysis⭐️

Currently trading above the 1.18 handle with more dominant bullish strength in play, however the upside seems to be limited to 1.19 at least for now. If this pair manages to break and hold above 1.19, the next level of resistance might be around the 1.1940 area which would be a pivot zone of a matching wave length distance of the first impulse I pointed out in this video.

US Stimulus went into recess and it appears no further talk of additional QE until the end of the month.


Regards,
Michael Harding

RISK DISCLAIMER
Information and opinions contained with this video are for educational purposes only and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors.