ForexTrendline
Short

EURUSD rest before the next rise.

FX_IDC:EURUSD   Euro / U.S. Dollar
We have been seeing a decrease in EURUSD for 2 days now. After seeing the highest values in a long time last week, the price started correction on Friday. The NFP report is expected this week.
We expect to see the correction continue and reach 1.1607.
The moment seems very suitable for sale, as we see a break of the trend line , as well as an ongoing test of the resistance zone .
This makes it possible to look for an entrance with a good ratio.
The other option, of course, is to wait for confirmation of the moment of entry from the candles.

Despite all these possibilities, we do not currently have a EURUSD login, as we have chosen to trade another pair with EUR. We expect fewer surprises there.

Comments

I think the trend is still semi bullish. Looking at previous very long bottom wick clearly we are still bullish and going up. We will hit 1.19-1.20 max then going deep down. USD losing is value because of low gdp, stalled stimulus, huge unemployment, rising covid and upcoming election. Sell at 1.19!
Reply
ForexTrendline samuelericsss
@samuelericsss, The long-term trend remains definitely upward. Correction is sought in this idea. After that we can buy.
We wouldn't sell at 1.19 especially as expected from now on! Thanks for your comment! Good luck!
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