Euro’s retreat from Tuesday’s high of 1.1234 to Wednesday’s low of 1.1131 suggests a short-term loss of momentum following a sharp rally from the post Fed low of 1.0952 and could yield congestion in the range of 1.1181-1.1130 levels.
Only a day end close above 1.1236 would indicate the rally from post Brexit low has resumed.
On the other hand, a daily closing below 1.1124 (back inside falling channel) would signal a top is in place at 1.1234 and prices are now heading back to 1.10 handle.
Only a day end close above 1.1236 would indicate the rally from post Brexit low has resumed.
On the other hand, a daily closing below 1.1124 (back inside falling channel) would signal a top is in place at 1.1234 and prices are now heading back to 1.10 handle.
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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.