Technical outlook:
EURUSD dropped to 1.1754 last week before pulling back higher again. The single currency pair is seen to be trading around 1.1844 levels at this point in writing and should be looking to resume lower again The counter trend is unfolding for now and resistance levels are towards 1.1845 and 1.1890 respectively. EURUSD is expected to complete its down gartley during this week and resume its down trend towards 1.1100 levels. A break below 1.1167 would confirm further downside towards 1.0775 levels respectively. The currency pair should face strong resistance around 1.1965 and prices should ideally stay below that mark.
Trading plan:
Remain short, stop @ 1.1990, targeting 1.1100.
Good luck!
