Actually, it is tough to answer that. Already 60% retail traders are net short at EURUSD. But EURUSD has still room for going up till the resistant 1.09811 (high of Dec 03,2015)
A break above this price could push EURUSD to the next Major resistant 1.11231 ( Key resistant zone for now) . And an ECB press conference is coming tomorrow. A reminder ECB having a hawkish tone for last couple of months. A bullish ECB could be a good reason for EURUSD to climb towards 1.11231.
On the other hand French Election outcome could make Draghi to change his policy for a while as EU friendly Macron won the first round and market guessing he will lead the second round too. So, a break below 1.08508 ( low of Oct 25,2016) would open door for EURUSD to go downward till the next major support 1.0653 ( high of Dec30, 2016)
Happy trading and check the chart analysis below.
(Note: My technical charts are from Tickmill, please adjust your chart, I have put a violet round box at support/resistant area)
freeimagehosting
A break above this price could push EURUSD to the next Major resistant 1.11231 ( Key resistant zone for now) . And an ECB press conference is coming tomorrow. A reminder ECB having a hawkish tone for last couple of months. A bullish ECB could be a good reason for EURUSD to climb towards 1.11231.
On the other hand French Election outcome could make Draghi to change his policy for a while as EU friendly Macron won the first round and market guessing he will lead the second round too. So, a break below 1.08508 ( low of Oct 25,2016) would open door for EURUSD to go downward till the next major support 1.0653 ( high of Dec30, 2016)
Happy trading and check the chart analysis below.
(Note: My technical charts are from Tickmill, please adjust your chart, I have put a violet round box at support/resistant area)
freeimagehosting
Does EURUSD going to fall as reached the trendline?
