EUR/USD Daily Forecast August 16th
Hello,
This is the Daily forecast for the EU. The euro has been running wild lately and I don't think the market has stopped.
Overall I am bullish on the EU and I think we will get a small pullback before move to the upside.
I have set sells below 1.179 as I think it is a reasonable level to look for sells. We have a range and if we break out of this range I am looking for sells.
Break of 1.18 will indicate for me to look out for buys. I have set out the final target for it to be 1.182
For the retest level I am looking out for 1.176 as I don't think we have properly retested the previous resistance now acting as a support.
If the support doesn't hold I have set out premium buys level for 1.173, a potential market reversal level.
Let me know in the comments what do you think about the euro?
Best regards,
LoneFX (CocoTradesFX)
This is the Daily forecast for the EU. The euro has been running wild lately and I don't think the market has stopped.
Overall I am bullish on the EU and I think we will get a small pullback before move to the upside.
I have set sells below 1.179 as I think it is a reasonable level to look for sells. We have a range and if we break out of this range I am looking for sells.
Break of 1.18 will indicate for me to look out for buys. I have set out the final target for it to be 1.182
For the retest level I am looking out for 1.176 as I don't think we have properly retested the previous resistance now acting as a support.
If the support doesn't hold I have set out premium buys level for 1.173, a potential market reversal level.
Let me know in the comments what do you think about the euro?
Best regards,
LoneFX (CocoTradesFX)
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