EURUSD Short-term Technical Outlook
Good evening traders.
After EURUSD forming a nice double bottom just ahead of the 14 year low, we have been seeing a decent pullback on this pair. The pressure is still definitely to the downside as long as we remain below 1.052 so looking for shorting opportunities is preferred. The latter will act as the "line in the sand", if you will, in that if price manages to sustain above it we can expect to see higher prices.
A rally up into the figure shouldn't be feared as it is strong resistance and should hold, at least initially.
Enjoy.
After EURUSD forming a nice double bottom just ahead of the 14 year low, we have been seeing a decent pullback on this pair. The pressure is still definitely to the downside as long as we remain below 1.052 so looking for shorting opportunities is preferred. The latter will act as the "line in the sand", if you will, in that if price manages to sustain above it we can expect to see higher prices.
A rally up into the figure shouldn't be feared as it is strong resistance and should hold, at least initially.
Enjoy.
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.