Forex technical analysis: EURUSD is going sideways. Overhead resistance is strong.

Cracked down to the below key levels last week. The corrective measures to be taken the measure of this week.Last week, the EURUSD broke down below:

  • 100 days (currently 1.16873)
  • The bottom from the 6 October to 1.16689
  • 200 MY week also 1.1668 this week.
  • Neckline from the daily chart head and shoulders pattern

All of this is downward, downward, downward. Stay below this area is of paramount importance for the bears to stay in control. A movement above these levels, would certainly disappoint the shorts on the failure. KEY….KEY…field.

The price chopped higher yesterday, with the pair moving up to a high of 1.16577 — -within 11 pips of the lower levels of the surface resistance of the area. Today, the price is especially low, but will not be the case. The beach is only 29 pips. The average range over the last month has been 73 points. There is room to roam if the pair may get a boost.
The drilling of more for the 5-minute chart, the price is cut around the 100 and 200 bar MA (blue and green, and is below a big trend line 1.1645, and above a declining trend line at 1.1627. These trend lines of convergence closer and closer together. The market is non-western. We can look for a break and run to a certain point.

The sellers in the command below, the key upside resistance. Can the pair get a bigger push to the outside with closed range? At some point, we will. Look for the break and run.

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