In our previous forecast, we correctly forecasted the bearish impulse that took place in the past week.
For this week, we expect the pair to enter a consolidation phase that will drag the price towards the resistance area that we highlighted on the chart. If we break the trendline, the chances for this move to happen increase considerably.
It will be a busy week for this pair, so keep an eye on Friday’s US NFP & Unemployment rate numbers.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week, we expect the pair to enter a consolidation phase that will drag the price towards the resistance area that we highlighted on the chart. If we break the trendline, the chances for this move to happen increase considerably.
It will be a busy week for this pair, so keep an eye on Friday’s US NFP & Unemployment rate numbers.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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