The Euro has been very bullish since March of 2020 making a most recent high at 1.23500 last week.
The EURUSD retested that high and got rejected for the second time creating a selloff.
On Thursday, we saw a Bearish Engulfing candlestick completely engulf previous days bullish candle.
The following day, bears continued the trend where EURUSD opened below the trendline and got rejected after the retest. This confirmed the bearish trend as sellers have control. We could see a further selloff this upcoming week if previous daily supports do not hold
Daily Support levels are 1.21937, 1.21250, and 1.20562
The EURUSD retested that high and got rejected for the second time creating a selloff.
On Thursday, we saw a Bearish Engulfing candlestick completely engulf previous days bullish candle.
The following day, bears continued the trend where EURUSD opened below the trendline and got rejected after the retest. This confirmed the bearish trend as sellers have control. We could see a further selloff this upcoming week if previous daily supports do not hold
Daily Support levels are 1.21937, 1.21250, and 1.20562
Thank you,
Stock Sniper Trading
Stock Sniper Trading