Mihai_Iacob

EurUsd and my two bearish scenarios

Short
FX:EURUSD   Euro / U.S. Dollar
As you know, I'm very bullish Usd and especially bearish EurUsd...
Looking at a longer TF we can see that since 1.6 top in 2008, EurUsd was trading down and although there are large swings, the direction remains.
In the past 5 years, EurUsd has entered a range mode with a low boundary at 1.05 and a high one at 1.25.
However, considering the fundamental factors, this range is very probable to be broken to the downside and EurUsd to dive hard under parity.
As the title says, I have 2 bearish scenarios for this outcome:

1. A rebound from 10.5 support towards 1.08 now strong resistance and break down after
2. A direct break that can lead to an acceleration

Regardless of which one, I will remain strongly bearish under 1.10 on the single currency

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