EURUSD Daily Charts
EURUSD is consolidating on the monthly and Weekly timeframe and negative sentiment prevail there. However on the Daily charts trading sentiment turned positive. Since the start of FEB 2017 EURUSD is in declining mode and so far twice EURUSD rallied from the intermediate lows formed around 1.0500 levels. It could act as a potential support zone in the upcoming day.
Shorter term expectation is formation of the W pattern with potential reversal towards 1.0800 reference.
EURUSD – 4 hour charts
On the 4 hour charts we has visual reference 1.0677, 1.0713, 1.0795 where markets are expected to spend some significant time at each reference before moving to the next reference.
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