the daily chartist

EUR/USD recap for 11.04.2016

published 6 years ago

Euro holds its ground as climbing continues in a tight trend formation. 1.13765 proved resilient and 1.13297 as well. Price is pricing in the V - bottom shape, but still on the top side remains 1.14535 to be breached. Overall USD weakness and good euro fundamentals and dovish FED comments. 

 Yesterday was a tough battle between bears and bulls. The daily candle opened at 1.14091, made a high at 1.14470, went low to as 1.13718 and closed at 1.14085. A doji candle, precursor for a next movement down, but as I write this, today's price moves up (for now). Long positions are obviously preferred, going long from every dip. 

 Another test towards 1.14535 will follow for sure and from there all will depend on the future direction for the EUR/USD pair.