EUR/USD Forecast: Neutral

Here is an analysis on EUR/USD

RECAP:

In our previous analysis EUR/USD was trading at 1.20880
We expected the pair to try and break resistance at 1.21-1.2800
The pair didn't manage to break above this resistance
We noted that if the pair doesn't break above this resistance it will fall to lows of 1.20200-1.20
And that's exactly what the pair did.
We managed to bank 400 pips on the pair as it hit our TP at 1.20400

WHAT TO EXPECT:

Pair has broken below its minor ascending channel
DXY is still continuing its bullish trend
The pair might go back to lows of 1.19500
If downward movement is rejected the pair might test resistance at 1.20800
If not, the pair will test 1.19500 & try to set new year lows of 1.18

OUR POSITIONS: (monitor entries)

Currently @: 1.20020
Buy Stop @: 1.20500
Buy Stop TP @ 1.20700
Sell Stop @: 1.19900
Sell Stop TP @: 1.19700

Link to previous analysis below

Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.