EURUSD - Strong Resistance with Multiple Trendlines
Updated
My apologies for the late-post, EURUSD has begun falling from an important resistance level formed by multiples of trendlines.
Nevertheless, it is still the beginning of a new wave of depreciation, thus there will still be another opportunity to sell at a better price as retracement takes place in a smaller timeframe.
The dollar has successfully reached 95.6, a very key level that has held the dollar from soaring for 2 months before it was broken about 1 month ago.
This is already an obvious sign that the dollar will regain its domination in September, thus EURUSD will still have a long way to go down further.
Nevertheless, it is still the beginning of a new wave of depreciation, thus there will still be another opportunity to sell at a better price as retracement takes place in a smaller timeframe.
The dollar has successfully reached 95.6, a very key level that has held the dollar from soaring for 2 months before it was broken about 1 month ago.
This is already an obvious sign that the dollar will regain its domination in September, thus EURUSD will still have a long way to go down further.
Comment
1.1583 can be a good level to short again.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.