#EURUSD @ 1.05063 H1 W-formation has seen a correction into the 50% mean reversion area.
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
- EUR/USD H1 W-formation has seen a correction into the 50% mean reversion area.
- The bulls are in control on the front side of the trendline support.
As per the prior analysis, EUR/USD Price Analysis: Bears move in and eye a break towards key 1.0300 support, whereby an inverse head & shoulders was identified on the daily chart, the price has rallied into the 1.05 area as follows:
It was stated that an inverse head & shoulders could be in the making at this juncture. ”Bullish commitments around 1.0300/50 would be forming the right-hand shoulder of the bullish pattern.”
Update:
At this juncture, the W-formation has seen a correction into the 50% mean reversion area and support. The bulls are in control on the front side of the trendline support and eye higher highs before the week is out.
[/s2If]
Join Our Telegram Group
