There are many reasons that suggest EURUSD bearish sentiment is likely to continue for the next couple of weeks:
1- Long-term bearish pattern points to an area between 0.97/0.95
2- There is a well-defined bearish channel
3- No evidence of capitulation
4- Key level of 0.97 is not yet touched off
5- EURUSD rate still trades below 1.008/1.013 zone
Resistances are 0.999, 1.004 and 1.008. Key supports are seen around 0.986, 0.97, 0.962 and 0.942
1- Long-term bearish pattern points to an area between 0.97/0.95
2- There is a well-defined bearish channel
3- No evidence of capitulation
4- Key level of 0.97 is not yet touched off
5- EURUSD rate still trades below 1.008/1.013 zone
Resistances are 0.999, 1.004 and 1.008. Key supports are seen around 0.986, 0.97, 0.962 and 0.942
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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.