The EUR pairs all fell strongly last week, continuing the existing downtrend. Price is now in a zone of previous resistance, which can now become an area of support. Given the strength of the previous move, expect some consolidation before a big move and a possible retest to the green line, unless market decides to continue with the downside momentum. This pair has the POTENTIAL to go lower before reversing if the zone is not respected due to the strong downtrend.
Price has not yet confirmed a reversal so DO NOT go with the bias of it being a strong buy.
This is not a trade signal, it is a possible outlook for the market, CONFIRMATION is still required to determine the direction that the trade may go, and when to enter the market.
Price has not yet confirmed a reversal so DO NOT go with the bias of it being a strong buy.
This is not a trade signal, it is a possible outlook for the market, CONFIRMATION is still required to determine the direction that the trade may go, and when to enter the market.