EUR/USD: hints from the weekly chart

EUR/USD: hints from the weekly chart

Trade idea

SELL 1.1340; TP 1.1240; SL 1.1365

EUR/USD formed a bearish candlestick with a big upper wick on the weekly chart. It failed to close above the 200-week MA in the 1.1340 area. The weak euro area’s PMI figures hurt the euro. Overall, it looks like it will be hard for the euro to get higher. As a result, our main idea is to sell EUR/USD on its attempt to revisit resistance. The situation will become easier for bulls only if the price pushes above 1.1350.

eurusd 2503.png

Similar

How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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