eurusd weekly level

The EURUSD has been tanking pretty hard lately, creating a very powerful bearish trading environment. EURUSD has now dropped down heavily and bumped into a weekly support level where we are now starting to see a bullish response from the market.

The weekly chart shows the EURUSD sitting extremely far away from it’s mean value, creating that mean-price gap. This is a powerful over-extention sign and usually will follow with a mean reversion. Because we’ve got the combination of weekly support and the gap in the mean value, we could be looking at the beginnings of a bullish correction.

[socialpoll id=”2218216″]

 

 

Your Feedback is Important to Me - Please Submit a Comment Here...