EURUSD Forex Analysis 12 July to 16 July 2021
Jul 9, 2021
We predicted that the EURUSD will move in a random walk manner this week, there is no clear direction establish but the bias is to the downside. The week found itself moving downwards early in the week, before finding a retrace back upwards later in the week. In the coming week, we see low hanging areas of value to the upside that institutions may want to exploit.
BULL CASE
The areas of interest here is the 1.20 level before price finds a retrace to either break the all time low or find conviction to continue the longer term uptrend.
BEAR CASE
There are longer term areas of interest to the downside, if price finds momentum to the downside we may see the 1.15 level retested after liquidating all the longs at the 1.17 and 1.16 levels
