Euro / U.S. DollarShort
EU Analysis
Daily: The pair has broken out of the inverted H&S neckline. A retest is needed to confirm the break. A rejection on 1.17 region would target the upside at 1.1825 & 1.2. The EMA 21 has also crossover to above EMA 50, indicating a potential upside trend.
H4: The pair has respected the uptrend & EMA support multiple times. I'll be waiting for the pair to react to the confluence point at 1.17 region. A rejection at 1.17 would expose the upside at 1.1825. Alternatively, a break below 1.17 would expose downside 1.166 & 1.162.
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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.