EURUSD- 24Feb2022
After the last 2 weeks of selling, EURUSD continues to face selling pressure after a short-term bounce in the last few days. On the daily, price drop back to a long-term descending trendline. There might be a short-term bounce.
On the H4, price dropped on the new of Russia-Ukraine conflict. Price is now within support at and has broken the major horizontal overlap support at 1.1300. With strong bearish pressure, price could continue down, else if it bounces back to 1.1300 it would definitely face bearish pressure.
This is for personal record purposes only, not financial advise or solicitation of trade.
After the last 2 weeks of selling, EURUSD continues to face selling pressure after a short-term bounce in the last few days. On the daily, price drop back to a long-term descending trendline. There might be a short-term bounce.
On the H4, price dropped on the new of Russia-Ukraine conflict. Price is now within support at and has broken the major horizontal overlap support at 1.1300. With strong bearish pressure, price could continue down, else if it bounces back to 1.1300 it would definitely face bearish pressure.
This is for personal record purposes only, not financial advise or solicitation of trade.