EUR/USD - possible SHS incoming
the euro has lost value in due to the Italian crisis, I expect to see a SHS formation (down to 1,131-1,133 which is 0,5 fibo line) that can be followed from a rise to 1.158. On a weekly basis we are still above the 200D MA which is a bullish signal. The RSI is on 4H chart within a correction, on a daily basis it starts to correct, on a weekly basis is still space to grow but near downtrend line.
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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.