Pair's sharp recovery from the low of 1.0525 to a post ECB high of 1.0615 has put in place a higher lows formation, which suggests the spot could head higher to 1.0707 in the next couple of days.
Short-term bullish invalidation is seen if the spot breaks below 1.0525.
The left shoulder of the inverse head and shoulder looks like a nice rounding bottom formation. Also reminds of the bottoming out of USD/JPY pair ahead of US elections!
Short-term bullish invalidation is seen if the spot breaks below 1.0525.
The left shoulder of the inverse head and shoulder looks like a nice rounding bottom formation. Also reminds of the bottoming out of USD/JPY pair ahead of US elections!