Strong Bearish Correction towards downside from Resistanc 1.1687
After the EUR/USD pair had broken through the long-term technical resistance located at the level of 1.1580, the uptrend has been confirmed and it is being continued. Currently, the market is trying to extend the rally towards the level of 1.1629 or higher towards the level of 1.1680.
The momentum is still Limited strong and positive, but the market conditions are now overbought, so please keep in mind the pull-back scenario during the trading activities. If the support zone seen at the levels of 1.1475 is clearly violated, then the bigger correction can take place with a target at the level of 1.1361 - 1.1347. The most important for bulls will be the monthly close (4 days left).
🛑SUPPORT/RESISTANCE
✅S1= 1.1475
✅S2=1.1390
✴️R1=1.1650
✴️R2=1.1776
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The momentum is still Limited strong and positive, but the market conditions are now overbought, so please keep in mind the pull-back scenario during the trading activities. If the support zone seen at the levels of 1.1475 is clearly violated, then the bigger correction can take place with a target at the level of 1.1361 - 1.1347. The most important for bulls will be the monthly close (4 days left).
🛑SUPPORT/RESISTANCE
✅S1= 1.1475
✅S2=1.1390
✴️R1=1.1650
✴️R2=1.1776
Please like, share, comments and follow me to get daily base analysis.
Thank you for your support, I appreciate it.