EURUSD (4H) - weekly bullish bias
The euro has found buying interests near the 61.8% Fibonacci retracement (1.0995) of the bullish move from last Thursday. We can expect an ABC corrective pattern in the current downtrend. The RSI is rising back from the near-oversold area, which suggests a deceleration in selling pressure. 1.1070 will be the immediate target.
Key support: 1.0995/1.0930
Key resistance: 1.1070/1.1100
The euro has found buying interests near the 61.8% Fibonacci retracement (1.0995) of the bullish move from last Thursday. We can expect an ABC corrective pattern in the current downtrend. The RSI is rising back from the near-oversold area, which suggests a deceleration in selling pressure. 1.1070 will be the immediate target.
Key support: 1.0995/1.0930
Key resistance: 1.1070/1.1100