Forex Technical Analysis For: EUR/USD
The EUR/USD tried to drive higher last week and marked 1.1712, but closed lower at 1.1184 in a volatile market.
Price traded a little higher earl Monday hit 1.1226. The bias is Neutral near term.
Overall technical outlook is Neutral in here, on the possibility that last week’s false break out set up a Bearish scenario.
Prices below 1.1300 target 1.1000. Seeing today’s range at 1.1150 – 1.1300.
After finding a trading system that works for you, the more cryptic and esoteric fields of study can then be incorporated into your technical and trading toolbox.The bottom line when utilizing any type of analytical method,technical or otherwise, is to hold to the basics, which are methodologies with a proven track record over a long period.
Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technical trader
Have a terrific week.
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