EUR/USD, trend lines and fail break
It’s interesting to see my EUR/USD analysis from Thursday August 18. and my comment on possible SL hunting above this strong trend line, which was holding the pair before and after the fail break, but not for that several hours of fail. Was that SL hunting or something else it’s irrelevant, but the real break missed and the pair returned on Friday as well as in the beginning of the new week. Todays support was trend line as well at 1.1270 and the pair manage to return the loss, holding at aprox the opening level in the moment of my writing. Stronger support on the way down is 1.1220/40 and resistance on the way up remains at the previous level, starting at 1.1300. You can see in my chart that my views is for the euro bullish trend, but let’s see how the technician will solve this problem on the way up, once again.