As we can see we have EURUSD just below the 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
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Check today analysis below⠀
-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