EURUSD is falling in a downtrend
And the pair has already lost almost 9% from the local highs
Which is a LOT for such a major pair, especially given
That the bulk of the action happened in the last few weeks
So the pair is locally oversold
And I think that those who are in the short trades
Are looking for a level at which to close their positions
At least partly, and the first strong structure is around 1.1179
And the pair has already lost almost 9% from the local highs
Which is a LOT for such a major pair, especially given
That the bulk of the action happened in the last few weeks
So the pair is locally oversold
And I think that those who are in the short trades
Are looking for a level at which to close their positions
At least partly, and the first strong structure is around 1.1179