EURUSD parite generate an expectation of a harsh pricing behavior will be occur in the new period by its calm image it experienced for last periods. So that, EURUSD, which has continues its current image with an important period of waiting, has an expectation of downward broking possibility. This kind of expectation occurs despite of the horizontal pricing behavior that continues in the bollinger band. Because the trend is negative.
While the calm pricinh behavior continues in EURUSD parite, the data flow will come from ABD may provide a change for active pricing behavior. Not only FOMC member Bostic’s and Chicago Fed Presient Evans’s speeches, but also Producer price index and FED president Powell’s speech are important news for these developments.
Main Scenario : If EURUSD parite continues to remain under the barrier of 1,1226, which is the bottom point of decreasing trend, it may want to resume its negative image which it has influence on since 21 March 2019. Whit this point of view, the trend rally towards support points of 1,1165, 1,1125 and 1,1085 can be observed. Espcially in the movements under the level of 1,1165, which is the bottom point of bollinger band, and especially if challel bottom point of 1,1085 and 1,1085 levels would be broken, the expectationd of trend image towards psychologic level of 1,100 may occurs. If the movements above the level of 1,1165 will continue, the congested pricing behavior which is between levels of 1,1165 – 1,1226 may wants to continue.
Alternative Scenario : In order to negative trend image toward EURUSD to end, it is required 4 – hours closing in the barrier of 1,1226. In case of trend changing, a positive image towards the barriers of 1,1255 and 1,1323 may be observed. If this kind of thing happens, the peak level dated 21 March 2019 may accelerate its increases toward resistance point of 1,1446.
Support: 1,1165 – 1,1125 – 1,1085
Resistance: 1,1226 – 1,1255 – 1,1323