Some Inflection Levels On EURUSD

Risk is on tap this week for the EURUSD with the interest rate decision and ECB conferance today and non farm payroll at the end of the week.

Symmetrical pattern if 1.1075 holds

Symmetrical pattern if 1.1075 holds

A couple of interesting levels on the chart above:

  • The 161 ABCD has held at just under 1.12 – we may see some selling here again – look out for stop runs and a double top forming.
  • If the 1.1075 level holds and we break to new highs, the symmetrical pattern completes at 1.1250 – there could be some supply here.

What do our players think?

The SparkProfit sentiment indicator, although net bullish, is looking very close to flipping to being short this pair.

What our players think

Our players are net long for now.

No Risk With SparkProfit

Which ever way you think EURUSD is going to go, you can play it risk free with SparkProfit.

Please note our disclaimer on all of this.

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