EUR/USD – Week 19 – Waiting for a channel breakout.
In our previous analysis, we expected EURUSD to start a bearish correction after breaking the channel, in order to gain further bullish momentum. Instead, prior to the Nonfarm Payrolls news event, the price started to increase and retested the resistance level.
For this week, we expect the price to make a pullback and continue rising, breaking the previous top.
Keep an eye on Wednesday’s Consumer Price Index and Friday’s Retail Sales data as it may impact the US Dollar.
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.
For this week, we expect the price to make a pullback and continue rising, breaking the previous top.
Keep an eye on Wednesday’s Consumer Price Index and Friday’s Retail Sales data as it may impact the US Dollar.
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.
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