Good afternoon traders! I hope everyone had an enjoyable weekend and is ready for some big market movement coming in the next few weeks.
We had early suspicion of EURUSD forming a bearish butterfly on the daily chart and it seems that it is working its way to confirm this.
Current levels put EURUSD at 1.0965-75, bouncing around without much drastic movement. We are keeping an eye at the major resistance level of 1.0980, as any major closes above this could be indicative of further BULL movement.
We would like to see confirmation of the BEARISH Butterfly by the pair going out of the wedge and breaking 1.10536 (76.4%).
We had early suspicion of EURUSD forming a bearish butterfly on the daily chart and it seems that it is working its way to confirm this.
Current levels put EURUSD at 1.0965-75, bouncing around without much drastic movement. We are keeping an eye at the major resistance level of 1.0980, as any major closes above this could be indicative of further BULL movement.
We would like to see confirmation of the BEARISH Butterfly by the pair going out of the wedge and breaking 1.10536 (76.4%).