Weekly Forecast for EUR/USD:- Waiting for to break range

Last week we saw these currency pair moves in range of 1.1116 to 1.0975.Most of the time EUR/USD touch the support 1.1000.EUR/USD not again enter in bullish area until and unless break the level 1.1185.According to last week movement it creates descending triangle pattern which indicates more bearish movement this week. We find some strong support at 1.0975,1.0719 and 1.0556.According to our analysis at the start of this week we will expect some retracement the again its moves to bearish direction.

The major economic events of the week.
German Ifo Business Climate
FOMC Statement
EBA Bank Stress Test Results

Support and Resistance:-
Resistance1= 1.1159
Resistance2= 1.1253
Resistance3= 1.1343
Support 1= 1.1011
Support 2= 1.0876
Support 3= 1.0702
Trend Bias:- Neutral
Candlestick Pattern:- Bearish Engulfing

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