The analysis of EUR/USD suggests that the market is in a bearish scenario, based on the presence of several bearish signals. Firstly, a bearish bounce off the channel occurred when the price hit resistance at the upper end of the channel and quickly fell, indicating a lack of buying momentum. Secondly, a fake breakout occurred when the price briefly rose above the channel, but quickly fell back below, further confirming a lack of buying pressure. Additionally, fundamental factors such as the strength of the US dollar and concerns about the eurozone economy also support a bearish outlook for EUR/USD. These factors combined suggest that EUR/USD is in a bear market and traders should approach the market with caution.
Trade closed: target reached:
100 Pips profit,
Pin point accuracy
Pin point accuracy