EURUSD Breaks the Descending Channel and 100H EMA
EURUSD has broken the Descending Channel and the 100H EMA as well. But, this is too early to confirm a change in trend.
If the price falls below the 1.0860 level, bears will be back in action.
However, a sustained break above the 100 hour EMA might indicate a change of trend in the near term.
Either way, traders must wait and maintain a cautious approach now to avoid getting caught on the wrong side.
My personal opinion is that EURUSD should drop once again towards 1.06 level.
If the price falls below the 1.0860 level, bears will be back in action.
However, a sustained break above the 100 hour EMA might indicate a change of trend in the near term.
Either way, traders must wait and maintain a cautious approach now to avoid getting caught on the wrong side.
My personal opinion is that EURUSD should drop once again towards 1.06 level.
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