EurUsd- Do we finally have a top for this correction?
Since October, EurUsd rose strongly and gained almost 1500 pips.
However, as I said multiple times, both fundamentals and long-term technicals do not suggest a trend reversal in the long run, and although 0.95 could be the bottom, there is more likely to have range trading going further for the most traded currency pair in the world, than continuation above 1.1
Stricly technical, Friday is marked by a hanging man candle, followed yesterday by a Shooting start (or Pin Bar if you wish).
These could be the indication of a top in place and a drop to 1.06 could be next.
Considering a stop loss above 1.09 we also have a good R:R for such a trade
However, as I said multiple times, both fundamentals and long-term technicals do not suggest a trend reversal in the long run, and although 0.95 could be the bottom, there is more likely to have range trading going further for the most traded currency pair in the world, than continuation above 1.1
Stricly technical, Friday is marked by a hanging man candle, followed yesterday by a Shooting start (or Pin Bar if you wish).
These could be the indication of a top in place and a drop to 1.06 could be next.
Considering a stop loss above 1.09 we also have a good R:R for such a trade
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