EURO Threatening To Break Major Support. Keep Your Eyes Open!
The major support at 0.96000 is being threatened to break, once this happens we can expect the price to head way down at next support/ demand zone located at 0.87000. With the FED tightening aggressively to tame the inflation, the likely hood of DXY momentum gaining traction is highly likely! This in turn could make the EURO fall gradually towards 0.87000 level.
On the technical note, the main monthly chart of EURUSD shows everything in detail, however in order to trade this wonderful opportunity, we require the weekly candle to close below 0.96000 first after that a short trade can be executed based on the ideal risk reward ratio.
All in all its a wonderful opportunity both on technical and fundamental note, all is needed now is for the weekly candle to pierce 0.96000 level then i will post another post that includes the trade details.
Trade cautiously and safely. cheers
On the technical note, the main monthly chart of EURUSD shows everything in detail, however in order to trade this wonderful opportunity, we require the weekly candle to close below 0.96000 first after that a short trade can be executed based on the ideal risk reward ratio.
All in all its a wonderful opportunity both on technical and fundamental note, all is needed now is for the weekly candle to pierce 0.96000 level then i will post another post that includes the trade details.
Trade cautiously and safely. cheers
