EURUSD Fake breakout
Updated
This week everyone was going long but now we got that bearish rejection making it a fake breakout of the weekly trend line, next week we might see bearish control.
Reasons why I think its going down:
-Price wasn't able to break through 1.08 key resistance level
-Price is has broken the weekly trend line *(You could take that last bullish impulse as a retest before it goes down)*
-USD fundamentals are strong we might see USD strength in the next weeks
-EUR might depreciate with France elections coming
-Major trend is bearish
Good luck :D
Reasons why I think its going down:
-Price wasn't able to break through 1.08 key resistance level
-Price is has broken the weekly trend line *(You could take that last bullish impulse as a retest before it goes down)*
-USD fundamentals are strong we might see USD strength in the next weeks
-EUR might depreciate with France elections coming
-Major trend is bearish
Good luck :D
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