EURUSD: Two Resistance to Watch Next Week 🇪🇺🇺🇸
Updated
Hey traders,
As I earlier predicted, EURUSD nicely bounced from a key weekly support level.
Even though that Friday was quite bullish for the pair, you must remember that
the trend still remains strongly bearish.
To catch a trend-following move, here are two resistance for you to watch next week:
- Resistance 1 is based on a trend line that the price started to respect since June.
Serving as a strong support for a very long time it has been broken recently.
Now it turned into a resistance and from that, I will look for a confirmation to sell. - Resistance 2 is based on a trend line matching the lower highs on a 3 days chart.
Three times in a row we saw a strong selloff from that.
Wait for its test and look for a confirmation to sell.
If you are looking for buying opportunities and you missed a pullback from the underlined blue support
I would suggest staying away from trading the pair for now due to a strong dominance of sellers.
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Note
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