EURUSD is still well and truly bearish after negative ECB news, causing a breakout through the support (now turned Resistance) level.
Price is currently trying to break even lower from the local trendline [requires confirmation], which would see EURUSD head towards the bottom of the long-term Major Trendline. From there we expect a bounce back towards Resistance before falling towards Major Support at Potential Reversal Zone 2.
Trading Ideas:
Short EURUSD
Trade trendline breakout [upon confirmation of breakout]
Price is currently trying to break even lower from the local trendline [requires confirmation], which would see EURUSD head towards the bottom of the long-term Major Trendline. From there we expect a bounce back towards Resistance before falling towards Major Support at Potential Reversal Zone 2.
Trading Ideas:
Short EURUSD
Trade trendline breakout [upon confirmation of breakout]
Trade closed: target reached
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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.
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.