US to continue bearish trend.
This to me looks like a very bearish set up on the monthly and weekly charts also. The pair has broken key monthly resistance, tried to push back through, but had the price rejected only to fall further. Our two moving averages still having crossed over. We also have candle conformation as we have a larger bearish candle. The NFP last friday also had a very bullish outcome which will only help the currency. My first price target would be set around 0.661 just over 400 pips away. My stop is set at 0.7250. Let me know what you think.
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.