Forex EUR/USD Daily Video, March 23, 2023

Sive Morten

Special Consultant to the FPA
Messages
18,792
Good morning,

Recent Fed decision is mostly supportive to EUR performance, so, we suggest that upside action could continue next week and consider 1.1170 as nearest target. This week we're mostly focused on pullback to 1.0770 area, but do not consider any bearish positions:

 
watching this price action, as you have talked about potential head & shoulder pattern, it has appeared although not perfect. The target of the H&S coincides with previous resistance line on the hourly chart and is also the XOP destination of the downward AB-CD 10806, looking attractive for long entry perhaps
 

Attachments

  • eur-usd 1hr 23-03-23.png
    eur-usd 1hr 23-03-23.png
    97.6 KB · Views: 7
Back
Top