-Here we have EURUSD which has painfully tried to break price within the box twice. Once to the upside and twice to the downside in what we called the last kiss trade. -Its however worth noting that as price tried to break bearish, it was met with a strong monthly support. -EURUSD has also been in a bulls market for the last 3 months as from our previous analysis so its highly unlikely to break the support zone below.
On this analysis too, , We said that when trading the last kiss trade, Emergency stop loss is placed in the midpoint of the consolidation box.
-The above statements alone are enough to nullify most bearish sentiments about the EURUSD for the coming week.
-We can also see that yesterday's candle formed a nice bullish engulfing signal after the rejection from the monthly support aided by the NFP news.
-Those are my thoughts on EURUSD so i will be looking for buy signals come Monday next week.