Description
⋅ Hey Everyone!
I believe we might have a good sell for following reasons:
- Overall higher timeframe market direction is bearish
- NFP news came out positive for the US Dollar
- Recent bearish engulfing candlestick closure
Its likely to re-test previous 20-50 moving averages, if these break I see this pair dropping much down much further.
EUR recently had a power spike, however I think its short-lived and the market will resume the bearish continuation.
Take your first profit at 20-30 pips just because the moving averages are there and might act as a support level.
Good luck!