EURUSD DAILY ANALYSIS, we expect this trendline to crack

7 Mar 2022

First, let us cover some historical points in EUR/USD's near history. We are in a nicely formed downtrend channel. The price action still has room until it hits the bottom trendline. Since the war is still at its peak, we expect this trendline to crack. EU sanctions on Russia will most certainly impact Europe's economy. At the moment euro is the most liquid short for everyone. Could we see a 1.0 scenario from 2002? For now, it looks bearish, but be careful around the support zone for a turnaround.

Use this information at your own risk. This analysis is to point out the high probability key points. For day traders, it is crucial to know the bigger picture. Have fun trading!