Chart in Focus: Daily EURUSD
The EURUSD downtrend continues, but price did retrace modestly higher on Friday, ending the day just below 1.2500 near-term resistance. We've been very bearish on this market for months now and that bias hasn't changed, and we are looking to sell on strength this week if price continues to retrace higher. Traders can look to sell up near 1.2500 – 1.2600 resistance area, ideally on a price action signal, if price moves higher this week. We are looking to rejoin the downtrend from value (resistance).
The EURUSD downtrend continues, but price did retrace modestly higher on Friday, ending the day just below 1.2500 near-term resistance. We've been very bearish on this market for months now and that bias hasn't changed, and we are looking to sell on strength this week if price continues to retrace higher. Traders can look to sell up near 1.2500 – 1.2600 resistance area, ideally on a price action signal, if price moves higher this week. We are looking to rejoin the downtrend from value (resistance).
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