EUR/USD-Overall analysis

2020-02-08 18:38:50

Hello everyone,have nice weekend too!

-On EUR/USD we can see that price was moving whole week in bearish direction(5 days) because EUR was weaker than USD.
-I have noticed that price broke double bottom's support line(yellow line),that was very strong resistance/support line because price retested that line almost 20 times and now is broken.
-On weekly base EUR is weaker than USD,EUR is at 41 level while USD is at 68 level.
-We can expect if nothing changes next week that price is going to continue in bearish direction and if EUR gain some power and USD lose some power then we can expect that EUR will gain some bullish momentum.
-I draw expected support line so we can see will it price retest it or will price is going to break it
-I recommend to wait for fundamental news so we can see what is going to happen.
-WHAT DO YOU THINK ABOUT THIS SETUP? Please let me know in comment section!

THANKS FOR READING!

-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.

-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.