Potential one more push down before sustained upside for EURUSD
The euro dollar continues to trade in a random walk manner in a historically choppy area for price action. We expect one more major push down by market makers to hunt stop losses before the pair finds sustained upside.
BEAR CASE
We are looking for potential short setups this week at around the 1.185 level. This could potentially bring us down the the 1.16 level before the pair finds sustained upside
BULL CASE
If the bulls find momentum to push up from here, we should find some kind of support near the 1.19 level. The resistance could extend to the 1.20 levels due to the liquidation of stop losses for traders that entered short at the 1.190 and 1.195 levels.
BEAR CASE
We are looking for potential short setups this week at around the 1.185 level. This could potentially bring us down the the 1.16 level before the pair finds sustained upside
BULL CASE
If the bulls find momentum to push up from here, we should find some kind of support near the 1.19 level. The resistance could extend to the 1.20 levels due to the liquidation of stop losses for traders that entered short at the 1.190 and 1.195 levels.