As expected we have a strong downward move in EURUSD as I have been warning the bulls for the past couple of weeks. Price is below the trend line and is making lower lows and lower highs. Bears are in control and pushing the price lower towards my first target at 1.10800. The hawkish hike led to the whole move and now the trend is expected to remain Bearish for the next couple of weeks. RSI is showing strong Bearish signals as you can see in the chart. I am bearish on EURUSD unless we reach 1.1000-1.0900 and placed a short yesterday at 1.1220 and looking for more lower targets. Those who played the way I did will be in profits now and I expect them to do more of the same in the coming sessions.
Recommendations: Sell on rallies around 1.1170 with stop loss above 1.1230 with targets at 1.1080, 1.1000 and 1.0930.
Good Luck..
Recommendations: Sell on rallies around 1.1170 with stop loss above 1.1230 with targets at 1.1080, 1.1000 and 1.0930.
Good Luck..