Take A "Euro" Look

Good Morning Dynamic Traders!

Weekend homework will lend itself well to the EURUSD in preparation for the week ahead.

The monthly chart below demonstrates a firm decline since July this year. Price has currently stagnated at a strong support and a suggestive fib level.

Additional analysis reveals that price could be further diluted towards 1.2, supported by a triple cluster and indeed another meaningful fib area.


EURUSD monthly chart Advanced Get

However, a "swing" trade mentality can paint a different picture.

Below is the daily chart.
Although transparent studies encourage weakness, other indicators may need to be deliberated to confirm the trend.
Note also the uncertain candlestick on the weekly chart.

My usual stance on a Friday is to wait in the wings as an observer. Trades will be executed with vigour early next week.


EURUSD daily chart Advanced Get

Have a lovely weekend!

Saba Jackson