The US Dollar will decide the EUR/USD fate
|EUR/USD
The EUR/USD has been in a short term bull move from the lows at 1.1074 in the beginning of August. This is mainly due to a weakness in the US Dollar. This currency pair has hit its secondary bull targets at around the 1.1358 level or the 161.8% of the first leg of the bull move. This zone is also the 61.8% of the 1.1637 - 1.0909 move to the downside. Massive supply is being found and price ahs tested it twice already.
Risht nowe bulls are rechargin at previous lows and the 50% of the last leg up still inside the bull structure for a retest of this supply area. Should this area break we could look at 1.1430 and above for bull targets.
EUR/USD
The EUR/USD has been in a short term bull move from the lows at 1.1074 in the beginning of August. This is mainly due to a weakness in the US Dollar. This currency pair has hit its secondary bull targets at around the 1.1358 level or the 161.8% of the first leg of the bull move. This zone is also the 61.8% of the 1.1637 - 1.0909 move to the downside. Massive supply is being found and price ahs tested it twice already.
Risht nowe bulls are rechargin at previous lows and the 50% of the last leg up still inside the bull structure for a retest of this supply area. Should this area break we could look at 1.1430 and above for bull targets.
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