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Analysis: On the Eur-Usd, we have an uptrend confirmed on the long, medium term and short term daily chart. On the very short term we have a strong uptrend situation.
Price range forecast for Eur-Usd:
- Scenario 1: following the situation on the Daily and 4H chart, we still have a uptrend channel. This week can continue to favor Long positions and we can expect the price to reach the range from 1.3666 to 1.3704
- Scenario 2: we have the indicators overbought on the Weekly and Daily chart, and the uptrend panting on Daily chart because of the butterfly announcing a possible price U-Turn to downtrend. By other hand, we have the market price moving from the second monthly resistance crossing the daily and weekly pivots showing the confirmation of a coming downtrend. Then we can have a coming downtrend allowing Short positions where market price can reach the range from 1.3400 to 1.3362.
Price range forecast for Eur-Usd:
- Scenario 1: following the situation on the Daily and 4H chart, we still have a uptrend channel. This week can continue to favor Long positions and we can expect the price to reach the range from 1.3666 to 1.3704
- Scenario 2: we have the indicators overbought on the Weekly and Daily chart, and the uptrend panting on Daily chart because of the butterfly announcing a possible price U-Turn to downtrend. By other hand, we have the market price moving from the second monthly resistance crossing the daily and weekly pivots showing the confirmation of a coming downtrend. Then we can have a coming downtrend allowing Short positions where market price can reach the range from 1.3400 to 1.3362.
