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FOREXN1
Oct 25, 2022 8:45 AM

EUR/USD:SELL From Resistance Area Bearish Flag 61.8% FIBO SHORT Short

Euro Fx/U.S. DollarFXCM

Description

EUR/USD Yesterday after the release of the USD Flash Services PMI, the Purchasing Managers' Index this time negative compared with the forecast, the EUR take advantage creating another bullish impulse, inside the Bearish Flag this takes the name of leg or wave inside of it. As you can see the price struggling inside this bearish pattern of continuation doing this morning a new reversal on the upper side of the pattern trend line, working this last like a resistance. The price is still inside an area of inversion, a resistance area ( White rectangle ) and the rejection happened on the dynamic trend line around 61.8% FIBO level. The stochastic still bearish and our vision still in favor for a downtrend continuation.

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Comments
JoeChampion
Good job, i agree on USD strength!
FOREXN1
@JoeChampion, Thank for your comment.
DeGRAM
Thank you for sharing
FOREXN1
@DeGRAM, Welcome !
FOREXN1
What do you think about ? the EUR/USD will have a Bearish impulse ?
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