EURUSD major trend has reversed sometime ago. On monthly time frame a clear descending trend line has been held on four separate occasions. Currently the Head and Shoulder pattern is nearly about to be complete and a breakout to the downside (neckline can be expected). However a strong resistance near 1.1500 holds the key to the progression of the pattern. A wedge has also been forming on the right shoulder on which a breakout would likely break the neckline of the H & S as well.
Fundamentally the dollar has been strong and the only thing thats threatening the dollar momentum is the comments made by trump recently. however the FED are still on track on raising the interest rates two time further this year.
On the Sentiment, from the Commitment o traders report the interest in dollar is on the rise and perhaps it has reduced on the recent remark made by trump but i still believe its just consolidating.
likely breakout can be expected to the downside if the crucial support is broken at 1.15 area.
Fundamentally the dollar has been strong and the only thing thats threatening the dollar momentum is the comments made by trump recently. however the FED are still on track on raising the interest rates two time further this year.
On the Sentiment, from the Commitment o traders report the interest in dollar is on the rise and perhaps it has reduced on the recent remark made by trump but i still believe its just consolidating.
likely breakout can be expected to the downside if the crucial support is broken at 1.15 area.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.