Euro / U.S. DollarShort
EUR/USD Fake Breakout Sell Opportunity
Fake Breakout with 5 consecutive days on the uptrend. Although general trend is looking bullish we expect a healthy retracement from this fake breakout before the big breakout to the upside 1.173+ assuming it passes the key critical resistance. Sell Opportunity to the regions of 1.15, daily indicators still highlight the pair as strongly overbought. It is only a matter of time before this pair retraces, as the USD is set to have a slightly stronger start to the week and the early news coming out of the Germany economy on monday 27th July (08:00 gmt) may tempt in profit taking at these key levels.
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.