Forex EURUSD Technical Analysis | Our expectations:
Probability of a breakout above 200SMA of H4, which can trigger an upward impulse to test levels at 1.1765 where the SMA50 is on a daily chart. The stop must be small, as the trade is a little riskier and expectations until the end of day SL 1.1630.
An attempt to break a diagonal resistance, which probably indicates the fatigue of the bearish trend and a little deeper correction.
The price is still below 200SMA and it is good to wait for a break above 1.1690.
The sentiment towards the single currency calmed down after the positive outcome of the political situation in Germany. On the other hand, the dollar weakens probably due to profit taking of long positions on the USD.
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