As it can be inferred from the 8h timeframe graph of EUR/USD, the price is slowly approaching a critical zone of support where the USD equals the EUR and is even more appreciated. Looking at the technical side of events, after an impulsive move, a correctional one should follow. Although our sentiment remains bearish on this pair, we are expecting for some pullback happen before deeper moves to the downside resume. Thus, we are monitoring the area highlighted on the chart for BUY positions and setting our target at the zone of previous support which nows acts as resistance.
Happy trading, family!
Happy trading, family!
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.
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.