EURUSD Closes Higher But With Caution Of Pullback
EURUSD: With the pair taking back its previous week losses at the end of the week, more recovery could be seen. However, beware of correction pullback. Resistance comes in at 1.1850 level with a cut through here opening the door for more upside towards the 1.1900 level. Further up, resistance lies at the 1.19500 level where a break will expose the 1.2000 level. Conversely, support lies at the 1.1800 level where a violation will aim at the 1.1750 level. A break of here will aim at the 1.1700 level. Below here will open the door for more weakness towards the 1.1650. All in all, EURUSD continues to face further bull threats.
The EURUSD rate dropped to 1.1765.
The euros rise against the dollar was stopped in its tracks by the 67th degree. The EURUSD rate dropped to 1.1765.
Im thinking about opening a long position with a BuyStop at 1.1780. If the euro renews the 1.1764 low, then it may be worth risking a long position from 1.1758/60.
EderT (03-24-2018)
Now lets look at the hourly chart. While the pair EURUSD has deviated from my weekly projection, I havent removed it from the chart because the rate has now returned to its projected level on the hourly cycles. Ive double-checked the cycles and nothing has changed. The pair just strayed from the weekly projection for a bit.Source: "EURUSD: expecting some moderate downwards movement"
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