Will the Uptrend Continue or Reverse at 1.0900? Let's Find Out
Hey traders,
Looking at the EURUSD chart, we can see that the market has been in an uptrend short term. However, the market was unable to sustain its momentum above the 1.1100 level, and traders took their profits at this level, causing the market to move downwards.
It is possible that the market may continue to move down towards the 1.1000 level, which coincides with the trendline support.
At this point, I am not suggesting shorting the market as long as it stays above 1.0900 because we are still trending upwards. If the market tests this level, it could be an opportunity to look for a buy entry.
Remember to follow and like this post for more exciting trading insights. Don't hesitate to share your thoughts in the comments section below. 🚀
Looking at the EURUSD chart, we can see that the market has been in an uptrend short term. However, the market was unable to sustain its momentum above the 1.1100 level, and traders took their profits at this level, causing the market to move downwards.
It is possible that the market may continue to move down towards the 1.1000 level, which coincides with the trendline support.
At this point, I am not suggesting shorting the market as long as it stays above 1.0900 because we are still trending upwards. If the market tests this level, it could be an opportunity to look for a buy entry.
Remember to follow and like this post for more exciting trading insights. Don't hesitate to share your thoughts in the comments section below. 🚀
