EURUSD 8/3/2019 Analysis
Slightly Bullish bias but could still go down.
Lowest price since may 2017. After a very strong impulse move to start, the recent downtrend has seen weaker impulsive waves and stronger corrective waves.
Price created two higher highs and then broke down below the lows, creating an over-extended low.
I'm looking for price to break above the nearest resistance zone and retest before continuing up.
Also, price could easily keep dropping to the nearest support zone.
At this time I don't have a strong bias, just open to want the market shows me.
Lowest price since may 2017. After a very strong impulse move to start, the recent downtrend has seen weaker impulsive waves and stronger corrective waves.
Price created two higher highs and then broke down below the lows, creating an over-extended low.
I'm looking for price to break above the nearest resistance zone and retest before continuing up.
Also, price could easily keep dropping to the nearest support zone.
At this time I don't have a strong bias, just open to want the market shows me.
Penafian
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