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.
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.
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