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EURUSD > Overall Look on EUR and Where to Next?!

Short
OANDA:EURUSD   Euro / U.S. Dollar
Analysis of #EURUSD

Hello friends,

As we can see we have EURUSD just below the structure resistance level also broke its short-term trend support which all present a selling opportunity.

if this is truly a selling opportunity why it has not move already, I suppose everyone saw this, why then no one is selling at least not enough selling so far.

actually, this could be too many reasons the first si the weak dollar which could lead to EURUSD breaking out to a new high, which I hope it will not.

the other reason it might be due to fundamental reasons, maybe the belief that the eurozone will recover from Covid-19 before the USA, which leads to big money fleeing the dollar and building positions in EUR.

anyway taking on its face value, if this setup is valid for you i think we could see a drop to 1.1800 before go lower, just be careful from the weak dollar




I hope this idea earns your likes and comments, that will really support me to keep providing you valuable analysis

Really appreciate your support and feedback
Check today analysis below⠀


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-DISCLAIMER: This Information Is Not a Recommendation to Buy or Sell. It Is to Be Used for Educational Purposes Only⠀
-⚠ Please Note This Is Just a Prediction and I Have No Reason to Act on It and Neither Should You
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Comments

very possible, we now have a nice 2.5k short added from an institutional perspective as well, definitely possible to see the move down, I will first be waiting for the break of structure on the daily tho, are you already in?
+1 Reply
TradingAxis transparent-fx
@transparent-fx, I love the way you look at institutional positions, I am short already yes, a different strategy
Reply
Clear sell indeed, only sentiment is holding EU up. Fundamentals and technicals point to the downside
+1 Reply
TradingAxis BertusBoezenkool
@BertusBoezenkool, let's hope so, good luck 🤞🤞🤞
Reply
I'm shorting on this pair with entry at 1.1852 since hours ago, and i hope it won't break out too.
+1 Reply
WeezyLegenD SpeedyEQTrader
@SpeedyEQTrader same here.
Reply
TradingAxis WeezyLegenD
@WeezyLegenD, good luck as well 🤞🤞
Reply
TradingAxis SpeedyEQTrader
@SpeedyEQTrader, amazing, good luck🤞
Reply
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