Having reached its target following the break of the double top – using the standard calculation of taking the size of the formation and projecting it below the neckline – the euro is struggling to break below 1.3373, where the 50 fib level is providing significant support.
The daily chart is showing a divergence between price action, which is making lower lows and the stochastic, which is making higher lows.
Finally the 1-hour chart has shown two spinning top candles, the last of which closed higher than it’s opening price, which could be another sign that the pair is looking more bullish.
The daily chart is showing a divergence between price action, which is making lower lows and the stochastic, which is making higher lows.Finally the 1-hour chart has shown two spinning top candles, the last of which closed higher than it’s opening price, which could be another sign that the pair is looking more bullish.
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