EUR/USD: mixed signals - increased attention around key levels 1.1688 for long and 1.1573 for short. Breaking of any of these levels will give us signal for position in the corresponding direction. Why the signal are mixed for the moment?
The middle-term movement of EUR/USD is long, but there is formed figure Head&Shoulders for possible price reverse - the figure is avtivated.
Engulfing candle for possible decrease from the theory of Price action analysis.
On the other hand the pair is at serious levels of support at 1.16, which is still unbroken - no closed candle below it.
Lower bottom of the grapg, but higher bottom of the indicator DeM - Divergence , which indicates that the price movement is inert - which doesn't support the short.
The fundament is for stronger dollar, but in short-term, which also doesn't give us cinfirmation for a short.
This is the reason to determine two key levels: long above 1.1688 and short below 1.1573.
Stefan D. Angelov - Head of Stocks Trading
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