Monday’s Technical Analysis: EUR/USD
EUR/USD (Euro)
The EUR/USD was volatile but indecisive last week formed a Doji on the weekly.
The bias is Neutral near term probably with a Bearish bias testing support at 1.0900.
1st resistance is seen at 1.1030, but Key resistance is at 1.1130.
Major technical outlook is Neutral.
Potential daily range Monday is seen between 1.0900 – 1.1030.
Direction: Overall South
After finding a trading system that works for you, the more cryptic and esoteric fields of study can then be incorporated into your technical and trading toolbox.The bottom line when utilizing any type of analytical method,technical or otherwise, is to hold to the basics, which are methodologies with a proven track record over a long period.
Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technical trader.
Have a terrific week.
HeffX-LTN
Paul Ebeling
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