Trend is bearish. Weekly lows taken out. This opens the way for further selling. Lower risk opportunities can present themselves upon a retracement on a smaller time frame. Will be watching for those, especially deeper retracements. Be aware of the support zone coming up in the 1.1089 - 1.0981 area. If price presents a reversal structure here over the coming weeks, risk on the short side can increase significantly. Adjust expectations.
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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.