Pivot point: 1.1735
The expected scenario: entering into buying deals at the highest levels of 1.1735, targeting the levels of 1.1855.
Alternative scenario: entering short deals below the levels of 1.1735, targeting the levels of 1.1660.
Commentary: The euro-dollar pair witnessed a breach of the descending price channel, during the beginning of this week's trading, to settle at the top of the descending price channel, trying to take more purchasing power to complete the upward journey. And targeting the 1.1855 levels, in the short term, especially in light of the price’s penetration of the moving averages (50-100), in addition to the presence of oversold in the liquidity flow indicator, which supports the positive outlook for the pair’s trading in the short term.
