EUR/USD at a Crossroads: Testing EMA Support with Bearish Bias
Hello Traders!
EUR/USD is testing the 21-day EMA as a tentative Support, which might indicate a temporary bullish stance within a broader bearish context underscored by the price's position below the 200-day SMA. Immediate resistance is eyed at 1.07992, with a break above potentially signaling a push towards 1.08607.
However, if the pair falls through the support at 1.06713, it could trigger a sell-off targeting the next support at 1.06204. Keep trades aligned with the dominant trend and employ strict risk management, ready to adapt to price action confirmations at these critical levels.
EUR/USD is testing the 21-day EMA as a tentative Support, which might indicate a temporary bullish stance within a broader bearish context underscored by the price's position below the 200-day SMA. Immediate resistance is eyed at 1.07992, with a break above potentially signaling a push towards 1.08607.
However, if the pair falls through the support at 1.06713, it could trigger a sell-off targeting the next support at 1.06204. Keep trades aligned with the dominant trend and employ strict risk management, ready to adapt to price action confirmations at these critical levels.
Sheena Lynne