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Posted on Oct 08, 2019 at 11:53 AM
Let's have a look at the market movement of EU from last week and determine where it will be headed for this week together.
Before We Trade EUR/USD This Week, Let's Take a Look At How It Did Last Week?
Forecast And Poll revealed:
1.0962 to 1.0942 was our key Resistance zone area. Our forecast was that thaere would be abreak below will begin another round of short sell. Other wise a Buy should breakout after a mild consolidation.
BIAS: Consolidation waiting for Bullish Breakout.
How we Traded:
We got into the BUY too early so we have to endure a 50pips loss for the week on this pair. However, the Bulls really did begin the Uptrend from 1.0940 as forecasted.
Lesson: Watch your timing & enter at a good price level considering strong Support & Resistance zones.
Before you tell us where EUR/USD is Headed for this week, Here's our own forecast for EU this Week:
EUR/USD: This week, fundamentals will be playing a huge role in the market direction of this pair this week. Meanwhile, major Resistance stands at 1.0990 with a consolidation range low at 1.0960 support area. Watch to scalp this range while looking out for a breakout to BUY when news of a weaker dollar emerges.
Our BIAS for this week: Consolidation waiting for Bullish Continuation.
What is your Forecast for this week on EU...
Do you agree to a Bullish Continuation or a bearish movement?
Don't forget we will be trading the direction with the most comments on this article by 6Pm today together and then we would review together on Friday?
The comment section is now open! Let's decide the direction for the week now!