Mihai_Iacob

EurUsd- Sell rallies is my strategy

Short
FX:EURUSD   Euro / U.S. Dollar
A few weeks ago I said that EurUsd could drop to 1.05 zone support and, indeed, the pair fell to that level.
A rebound followed after the second touch of this support and now the pair is trading back above 1.07.
Although this double touch of the 1.05 zone and the break above 1.07 looks like a double bottom, in my opinion, it will not play out and I expect a reversal to the downside from 1.0770-1.08 resistance zone and a new drop towards 1.05 support.
A daily close above resistance would negate this scenario

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