EURUSD - A short squeeze could trigger a drop to 1.168

Apr 20

EURUSD is shifting its market tone amid changing fundamentals. Negative sentiment is triggering a sell-off and causing the session to open with a gap.



The currency pair is breaking its bullish structure amid a strengthening dollar and shifting fundamentals. The market opens with a gap and is retesting key resistance levels.
The euro entered a sell-off phase on Friday amid a dollar rebound. The price is hitting new lows, confirming market doubts. Zone of interest: 1.1765 – 1.1793. A short squeeze could trigger a decline

Resistance levels: 1.1765, 1.1793
Support levels: 1.1721, 1.1680

A retest of key resistance and the zone of interest (area of imbalance) could shift the balance of power toward sellers and trigger a decline to 1.168

Best regards, R. Linda!

Apr 21

Trade active

Apr 21

Trade closed: target reached