During the week, EURUSD had an established consolidation of 1.12514(S) - 1.13478(R) Friday it broke the support levels. If on Monday prices DO NOT break the low of Friday and closes above 1.12514 then the consolidation range will have extended itself and the uptrend can reestablish itself.
The RSI trigger shows that currently strength exists to push down to 1.1126 pricing. Monday will determine if this is still true.
It may have been over selling from a baseline trigger which was looking at the bottom of the consolidation range (~1.1230) and Monday will erase any "overage" that was caused in the selling Friday.
The weekly chart has a consolidation of 1.11603(S) - 1.13478(R).
Weekly RSI still has a price trigger taking aim at ~1.15848
The RSI trigger shows that currently strength exists to push down to 1.1126 pricing. Monday will determine if this is still true.
It may have been over selling from a baseline trigger which was looking at the bottom of the consolidation range (~1.1230) and Monday will erase any "overage" that was caused in the selling Friday.
The weekly chart has a consolidation of 1.11603(S) - 1.13478(R).
Weekly RSI still has a price trigger taking aim at ~1.15848
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.