EURUSD - Strong Resistance with Multiple Trendlines
My apologies for the late-post, EURUSD has begun falling from an important resistance level formed by multiples of trendlines.
Nevertheless, it is still the beginning of a new wave of depreciation, thus there will still be another opportunity to sell at a better price as retracement takes place in a smaller timeframe.
The dollar has successfully reached 95.6, a very key level that has held the dollar from soaring for 2 months before it was broken about 1 month ago.
This is already an obvious sign that the dollar will regain its domination in September, thus EURUSD will still have a long way to go down further.
Nevertheless, it is still the beginning of a new wave of depreciation, thus there will still be another opportunity to sell at a better price as retracement takes place in a smaller timeframe.
The dollar has successfully reached 95.6, a very key level that has held the dollar from soaring for 2 months before it was broken about 1 month ago.
This is already an obvious sign that the dollar will regain its domination in September, thus EURUSD will still have a long way to go down further.
Comment:
1.1583 can be a good level to short again.