Lately whenever we thought EUR is doomed it pulled itself back up. We are facing support one more time now and we are looking to see if we are going to break it or not. If we do end up breaking the trendline, we will be waiting for nice corrective move to retest the broken trendline and execute short trade towards demand area at around 1.06500.
DXY is currently within a triangle so when it reaches 101 it could go either way. If DXY breaks resistance alongisde EUR breaking support, it will be good confirmation for us that USD is getting strong.
DXY is currently within a triangle so when it reaches 101 it could go either way. If DXY breaks resistance alongisde EUR breaking support, it will be good confirmation for us that USD is getting strong.
Here is an alternate view at EURUSD with a broadening wedge and bottom of it waiting to be tested for the 3rd time before going up which is another confluence that we might see 1.06500 levels again in near future.