Euro / U.S. DollarShort
Bearish Outlook for EURUSD
Hey Traders,
It looks like we're in for a bearish move onEURUSD this week. The price continues to form lower lows and lower highs, with the latest impulse correction breaking and retesting the 1.082600 major level (support turned resistance).
Technical Analysis:
The bearish trend is supported by the rising
DXY, which adds strength to the dollar and pressures the EURUSD pair. The recent price action confirms that the 1.082600 level is now acting as resistance.
Targets:
TP1: 1.07400
TP2: 1.06850
Conclusion:
The current setup suggests a continuation of the bearish trend in EURUSD. Monitor the price action around these levels and adjust your trades accordingly.
I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all!
It looks like we're in for a bearish move on
EURUSD this week. The price continues to form lower lows and lower highs, with the latest impulse correction breaking and retesting the 1.082600 major level (support turned resistance).Technical Analysis:
The bearish trend is supported by the rising
DXY, which adds strength to the dollar and pressures the EURUSD pair. The recent price action confirms that the 1.082600 level is now acting as resistance.Targets:
TP1: 1.07400
TP2: 1.06850
Conclusion:
The current setup suggests a continuation of the bearish trend in EURUSD. Monitor the price action around these levels and adjust your trades accordingly.
I would love to hear your thoughts in the comment section, and please hit boost and follow for more ideas. Thank you, and profitable trading to you all!
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