EURUSD has consolidated for the past 2 weeks amid a strengthening dollar.
Throughout the consolidation, constant rejections near 1.20 psychological level were seen even as the lows were getting higher.
It then led to stronger selling pressure in the last 2 trading days and the low was finally lower this time.
A bearish flag was then formed as a result and we can continue to sell.
This week, we expect EURUSD to reach 1.18 and then beyond 1.17 in the next 2 weeks.
Throughout the consolidation, constant rejections near 1.20 psychological level were seen even as the lows were getting higher.
It then led to stronger selling pressure in the last 2 trading days and the low was finally lower this time.
A bearish flag was then formed as a result and we can continue to sell.
This week, we expect EURUSD to reach 1.18 and then beyond 1.17 in the next 2 weeks.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.