EURUSD Dark Cloud Pattern for a Possible Counter Trend Trade
|>>The EUR/USD spiked after the ECB conference where Mr. Draghi delivered a bit hawkish outlook compared to his previous speeches.<<
EUR/USD market is still a bit bullish but we can see a Dark Cloud pattern hanging just at the D H3 resistance which is a way above the W H5 – weekly resistance. If 1.1730 holds we might see the rejections from the POC zone that sits around 1.1700. Target is 1.1665 and the overshot extension might target confluence at 1.1639. Today is Friday so the price might drop as a result of profit taking.
EURUSD Current Trading Positions
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.