EURUSD Need for attention

8 Jul 2018

We can see that the convergence pattern of H1 in Europe and the United States has further risen to the upper resistance range of 1.1745 to 1.173 on the night of non-agriculture, but it has not broken 1.1750. moreover, there are crossover stars in H1 and H4, respectively. So next, we need to pay close attention to the downward trend above and the key 1.1750 level to see if it will break through the key point and stabilize. We are considering whether to go long. If it does not break and continue to fall, then the break will fail. In the event of a breakout and fall below 1.173, we will remain bearish. The current position does not recommend a precipitous long order. From a fundamental technical point of view, the non-US monetary situation is more bearish at the moment.