The bias for EUR/USD is bearish, as the price keeps on constantly forming Lower Highs and Lower Lows. After forming a nice Lower Low last week, a nice correctional move was inevitable. The price is currently located at a level of resistance which aligns with 0.5 Fibonacci retracement level.
We will be patiently monitoring the price and looking forward to opening Sell positions from the area plotted out on the chart. Our target will be set at the previous Lower Low or even lower, depending on how the price plays out.
Happy trading, family! Do not forget to drop your thoughts and ideas in the comment section below!
We will be patiently monitoring the price and looking forward to opening Sell positions from the area plotted out on the chart. Our target will be set at the previous Lower Low or even lower, depending on how the price plays out.
Happy trading, family! Do not forget to drop your thoughts and ideas in the comment section below!
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.
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.