"EUR/USD Retracement After Bearish Breakout
Updated
The EUR/USD pair has recently encountered significant downward pressure, breaching key support levels.
A double bottom pattern, a classic bullish reversal formation, has formed within the downtrend indicating a potential exhaustion of selling pressure.
We can expect a retracement towards the broken support at 1.07257.
A double bottom pattern, a classic bullish reversal formation, has formed within the downtrend indicating a potential exhaustion of selling pressure.
We can expect a retracement towards the broken support at 1.07257.
Note
The price has reached the designated entry level, signalling a potential opportunity to initiate trades.It is prudent to wait for confirmation of a reversal on lower timeframes before executing orders.
Trade closed: target reached
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