Euro / U.S. DollarShort
EURUSD Sellers taking control
Clear daily downtrend, price approaching major previous support area. Price has retraced nicely and formed two consecutive pin bars indicating buyers have been rejected twice, overall momentum is down and price retraced to the 50% Fibonacci level. My biased is a further downward move however I am cautious of the major support area near my target so I'll be watching carefully on lower time frames.
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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.