EURUSD Price Action

EURUSD Price Action

After rejecting the daily resistance zone with a Engulfing pattern EURUSD moved lower very next day and got little ground from daily dynamic support. After weekly close we can see there is a nice shooting star formation rejecting a good resistance which add more confluence to the reversal thought here. EURUSD need another weekly bearish candle to confirm the reversal.

 

Key Points

– Daily Engulfing pattern

– Weekly Shooting star

– Resistance Zone

 

Daily

EURUSD Price Action

 

Weekly

EURUSD Price Action