EUR/USD Price Analysis: Bulls eye a 50% mean reversion near 0.9950 – by fx_ross EURUSD Technical Analysis
The dollar has since been faded which gave some relief to thespace and the euro. At the time of writing, DXY is trading at 109.779 and recently plummeted to 109.534.
retracement area that met with the resistance of the M-formation's neckline. The tweezer top was also a bearish feature and a move to test support was on the cards should 0.9940 give out:The price is creeping in on the gap and it has made a 38.2% Fibonacci retracement, but a fuller correction could be on the cards prior to the next bearish impulse to the downside:On the chart above, the bullish inverse head and shoulders are a compelling feature on the hourly time frame.
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