EURUSD Weekly Technical Outlook
EURUSD market operation is in a bearish mode. On the weekly time frame, market operation printed a bearish candlestick last week in rejection of the 1.09300/1.10500 horizontal resistance zone (purple). The dominant technical structure is still bearish.
EURUSD price action on the daily tie frame is bearish. However, price action is presently tackling the 1.08480 minor horizontal support and we may not see a bearish drive in the early part of the week.
EURUSD price action on the H4 time frame is bearish but there is a decline in southward momentum as price action tackles the 1.08480 horizontal support. We can expect a southward liquidity sweep to an area of value, but a northward market engineering is also probable. Nevertheless, the dominant technical structure is bearish. Therefore, a northward market engineering to an area of value (e.g., a market imbalance) would offer a feasible sell trading opportunity.
I may be wrong. Trade safe and prosper.
KP
EURUSD market operation is in a bearish mode. On the weekly time frame, market operation printed a bearish candlestick last week in rejection of the 1.09300/1.10500 horizontal resistance zone (purple). The dominant technical structure is still bearish.
EURUSD price action on the daily tie frame is bearish. However, price action is presently tackling the 1.08480 minor horizontal support and we may not see a bearish drive in the early part of the week.
EURUSD price action on the H4 time frame is bearish but there is a decline in southward momentum as price action tackles the 1.08480 horizontal support. We can expect a southward liquidity sweep to an area of value, but a northward market engineering is also probable. Nevertheless, the dominant technical structure is bearish. Therefore, a northward market engineering to an area of value (e.g., a market imbalance) would offer a feasible sell trading opportunity.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
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