Sep 10 2018

Weaker EUR/USD

As we enter another week we are keeping EUR/USD in focus as the pair is likely to witness significant movement. The hourly charts show what appears to be a valid Head & Shoulders pattern only for the Euro to regress against Dollar through an area of resistance at around 1.1730.
EUR/USD further looks down now and if price breaks 1.15000 we could be looking at a sharp depreciation to 1.13000. As always, there are levels of support and resistance to consider on smaller time frames if we do see a drop.
Key data coming up includes the ECB Rate Decision on 13th Sep & USD Retail Sales Advance. Tweets and shouts from Trump will dominate the scene further. Look forward to exciting week ahead.