This analysis is mostly based on pattern recognition and it looks like there is some bad news coming in for this Euro pair. Although we do have a lot of medium to high impact news forthcoming this week as we creep into May, most are looking at a consensus of shrinkage regarding the Euro against the Dollar. I am looking forward to see if this pair can reach back up to the weekly highs. I really do not see any Euro strength as of right now because of such a strong downside trend which began around this same time last year in April of 2018.
Disclosure: *Trading foreign exchange carries a high level of risk. Trading is not for everyone and losses could easily exceed investment capital. Results are not typical. Use proper risk management and smaller lot sizes to protect accounts.
Disclosure: *Trading foreign exchange carries a high level of risk. Trading is not for everyone and losses could easily exceed investment capital. Results are not typical. Use proper risk management and smaller lot sizes to protect accounts.