- Bearish Flag forming on the H8/Daily TF - Nice impulse to the downside breaking past 1.13000 - Retest of the round psychological number 1.13000 - 61.8 Fib level lines up with previous stated confluences - 3rd touch of trendline on H1 timeframe
Brief Fundamental Analysis on the currency pair:
- ECB aren't looking to change monetary policy anytime soon - Energy crisis in Europe growing concern - Concerns over new Covid strain 'Omicron' - The FED are looking to increase their tapering pace, raise interest rates as soon as early 2022 - US Dollar seen as a safe 'haven' for investors (risk-off market = bullish for the Dollar and bearish for the Euro)
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