EURUSD Trading Idea for the coming week of 6th May 2019

Last week, as expected, EURUSD rallied as expected due to the weakness of USD. However, on Wednesday, the rally was halted and higher prices were rejected with a massive shooting star on Wednesday’s close of the daily candle.

However, the move to the downside could not reach the previous low, and has formed a hammer on Friday’s close of the daily candle. Therefore, with a possible pullback to the support zone of 1.1180, EURUSD could once again reach towards the up trendline that is still intact.

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Amir is a graduate in International Economics. He has been active in the financial markets since 2014.

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