2021-08-16 • Updated
4H Chart
Daily Chart
EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1.18, while our entry was at 1.1730, giving us a net of +70 pips profit. In the meantime, the Euro retraced 50% of recent declines (8 sessions of consecutive declines), therefore, another leg lower is highly possible this week. Yet, I would prefer to wait for such retracement to be completed, which may reach 1.1830’s before issuing a new trade. Stay tuned!
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 1.1625 | 1.1701 | 1.1749 | 1.1777 | 1.1825 | 1.1853 | 1.1929 |
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