EURUSD broke below the physiological level of 1.1000 creating room for a test of the previous resistance level at around 1.0925. Going below that level would leave room for the bears to test the bottom of the bearish channel.
With the current uncertain political environment be aware of any move upwards pressure towards the top of the channel. I am bullish on the euro in the longer term from these levels but still remain bearish in the short-medium term.
With the current uncertain political environment be aware of any move upwards pressure towards the top of the channel. I am bullish on the euro in the longer term from these levels but still remain bearish in the short-medium term.
Comment:
We touched a rejected the top trend line. Watch closely what occurs from here. a retest could mean a change in trend but a continuation of a downwards move would probably make for new lows.