EUR/USD’s weekly chart shows indecision or seller exhaustion. A weekly close above 1.1085 would validate last week’s spinning bottom and confirm a bullish reversal. Sign of seller exhaustion have emerged on EUR/USD’s weekly chart, however, a break above the last week’s high of 1.1085 is needed to confirm a bullish reversal. The common currency created a spinning bottom candle last week, which comprises of a small body and long upper and lower shadows. That candlestick is widely considered a sign of indecision. However, in EUR’s case, the spinning bottom has appeared at multi-year lows and could be considered a sign of seller exhaustion and an impending bullish reversal. That said, the trend reversal would be confirmed if the pair manages to end the current week (Friday’s close) above 1.1085. That could happen if the European Central Bank’s (ECB) stimulus measures fall short of market expectations. The central bank is expected to cut rates on Thursday and announce a fresh bond-buying program. Weekly chart Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China ramped up its Gold reserves by 5% in August FX Street 4 years EUR/USD's weekly chart shows indecision or seller exhaustion. A weekly close above 1.1085 would validate last week's spinning bottom and confirm a bullish reversal. Sign of seller exhaustion have emerged on EUR/USD's weekly chart, however, a break above the last week's high of 1.1085 is needed to confirm a bullish reversal. The common currency created a spinning bottom candle last week, which comprises of a small body and long upper and lower shadows. That candlestick is widely considered a sign of indecision. However, in EUR's case, the spinning bottom has appeared at multi-year lows and could be considered a sign… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
