Hourly EURUSD is Waiting for Breakout to Choose Direction
By: Eddy Peng Jan 30, 2018
A look at the 1-hour chart on the EUR/USD remains in a downside momentum depicted by a price channel. For the current situation, the pair is now approaching the upper channel line regarded as a modest barrier. However, for the horizontal perspective, the recent decline to current level may look for support on Jan. 26’s low of 1.23689, and with more forward looking, another support could be found on Jan. 29’s low of 1.23361 ahead.
The hourly outlook on the pair is neutral here, because it is standing at the crossroad, where it is yet to decide which way to go. However, it is the important point that investors should be attentive and await its next signal for choosing the direction.
Figure 1: EURUSD 1-Hour
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