Greetings Fellow Traders,
EURUSD has broken a key technical level on the daily chart to finish off this week's trading.
It should be expected that in the next 1-2 weeks selling pressure will prevail. However please note that the weekly candle is not in total agreement with the daily candle on the level that was broken. The bias remains very strongly in favor of the bears, but some timely consolidation may occur next week to see larger sells the following week.
Regardless I have outlined the key bearish strength line that the market is now using - This will provide you with what should be the best possible sell entry...just reiterating that it may not mature into what you think it will immediately.
I recommend selling EURUSD with any rally next week...price should firmly stay below 1.10000 even more so 1.1060.
If you have any questions or need me to elaborate leave a comment below or send a PM. Follow/like if it pleases you.
EURUSD has broken a key technical level on the daily chart to finish off this week's trading.
It should be expected that in the next 1-2 weeks selling pressure will prevail. However please note that the weekly candle is not in total agreement with the daily candle on the level that was broken. The bias remains very strongly in favor of the bears, but some timely consolidation may occur next week to see larger sells the following week.
Regardless I have outlined the key bearish strength line that the market is now using - This will provide you with what should be the best possible sell entry...just reiterating that it may not mature into what you think it will immediately.
I recommend selling EURUSD with any rally next week...price should firmly stay below 1.10000 even more so 1.1060.
If you have any questions or need me to elaborate leave a comment below or send a PM. Follow/like if it pleases you.
