EURUSD; Bears in control; market could rest from here.
1.1700 was pointed out to be significant support in the last analyses but after one bounce bears were able to get market below. A low from novemeber 2017 (1.1553) caused the current bounce but for now it seems like 1.1720/1.1730 is now acting as resistance.
With the RSI jumping out of oversold territory one could expect to see more stability from here, but a break above the steep downtrendline (at that same resistance area) is needed to confirm this idea. Fing value above 1.1730 could set the stage for a countermove to toward 1.1860.
Dips can see support around 1.1600. Finding support there could see market between 1.1600 and that 1.1730 for now. Below 1.1520 downside risk extends to 1.1300.
With the RSI jumping out of oversold territory one could expect to see more stability from here, but a break above the steep downtrendline (at that same resistance area) is needed to confirm this idea. Fing value above 1.1730 could set the stage for a countermove to toward 1.1860.
Dips can see support around 1.1600. Finding support there could see market between 1.1600 and that 1.1730 for now. Below 1.1520 downside risk extends to 1.1300.
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