Yes! I think it's going to resume the mega downtrend soon. What do you reckon will happen?mlawson71 wrote: Tue Oct 22, 2019 3:00 am EUR/USD found some resistance at 1.1180 and it has formed several spinning top candlesticks at that level on the four-hour time-frame, there may be a correction coming before a new move north.
EUR/USD Technical Analysis: The up move was rejected in the 1.1180 region
- EUR/USD met some selling pressure in the 1.1180 region, or new 2-month peaks recorded at the beginning of the week. This area of resistance is also reinforced by a Fibo retracement of the 2017-2018 rally at 1.1186.
- The near term bullish view, however, remains well in play while above the 55-day SMA in the mid-1.10s.
- If the buying impetus picks up extra pace, then the critical 200-day SMA at 1.1206 should return to the radar.
Source: https://www.fxstreet.com/news/eur-usd-t ... 1910220927