EURUSD: Weekly Forecast 20210530
EURUSD posted another weekly gain but leaving a long upper shadow for the 2nd time as it continued to face resistance.
Although EURUSD has been constantly trading higher, the weight has started to shift towards overbought.
The dollar might gain more demand amid falling asset prices which may cause a temporary pullback on EURUSD's current bullish trend.
This week, we will attempt to sell within the current supply zone and probably add on to our short positions, if any, as it starts to breaks below the rising channel.
Although EURUSD has been constantly trading higher, the weight has started to shift towards overbought.
The dollar might gain more demand amid falling asset prices which may cause a temporary pullback on EURUSD's current bullish trend.
This week, we will attempt to sell within the current supply zone and probably add on to our short positions, if any, as it starts to breaks below the rising channel.
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