EURUSD | A GOOD SHORT TRADE BUT NEED PATIENCE!
Hello traders,
EURUSD is trending towards the downside heavily, but it's reaching a monthly/weekly support zone marked in blue.
This zone could definitely have a lot of buying orders ready to play the game, so I would expect a pullback towards the 25-50 moving averages before a push towards the downside to re-test and potentially break the zone.
EUR - fundamentally looks much weaker and hedge funds are decreasing buying power comparing to USD or GBP.
It also feel fairly very sharply so the RSI indicator is very much oversold, which suggests a pullback, I would wait for better entry zone before entering short.
EURUSD is trending towards the downside heavily, but it's reaching a monthly/weekly support zone marked in blue.
This zone could definitely have a lot of buying orders ready to play the game, so I would expect a pullback towards the 25-50 moving averages before a push towards the downside to re-test and potentially break the zone.
EUR - fundamentally looks much weaker and hedge funds are decreasing buying power comparing to USD or GBP.
It also feel fairly very sharply so the RSI indicator is very much oversold, which suggests a pullback, I would wait for better entry zone before entering short.
