EURUSD: Weekly Forecast 20210711
EURUSD dipped lower and found stronger support at the bottom of the symmetrical triangle and finally the completion of a bearish Elliot wave.
The price rebounded pretty well for the last 2 trading days with a bit of resistance but the buying wasn't really strong.
It is also about to reach the top of the falling channel and may start to consolidate again without a stronger rebound.
Nevertheless, our main direction will be bullish and we will be waiting to buy the pullback but may also attempt selling until a breakout of the falling channel and 1.1900.
In short, it's just a very straightforward strategy to buy the rebound from the bottom of a ranging market.
The price rebounded pretty well for the last 2 trading days with a bit of resistance but the buying wasn't really strong.
It is also about to reach the top of the falling channel and may start to consolidate again without a stronger rebound.
Nevertheless, our main direction will be bullish and we will be waiting to buy the pullback but may also attempt selling until a breakout of the falling channel and 1.1900.
In short, it's just a very straightforward strategy to buy the rebound from the bottom of a ranging market.
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