EURUSD has been trading in bearish parallel channel, making lower lows and lower high. The trend was bearsih from 25th May 21. Since then price has lost more than 1300 pips.
Recently price make a bottom near its 7th May 2020 low and bulls showed momentum. The price got rejected from falling trendline and once again found itself on the same support, making double bottom situation.
The indicator is also suggesting bullish divergence which means the downside is now very limited and one can built position for the upside.
The French Presidential election earlier this week and policy rate anouncement on Thursday shows EUR will get strong.
Do your own working and tell us what do you think?
Recently price make a bottom near its 7th May 2020 low and bulls showed momentum. The price got rejected from falling trendline and once again found itself on the same support, making double bottom situation.
The indicator is also suggesting bullish divergence which means the downside is now very limited and one can built position for the upside.
The French Presidential election earlier this week and policy rate anouncement on Thursday shows EUR will get strong.
Do your own working and tell us what do you think?
