Chart in Focus: Daily EURUSD
The EURUSD continued losing ground last week, as we can see in the weekly chart below. We are still bearish biased on this market and will continue looking for price action sell signals on any rotation higher this week, to trade in-line with the downtrend from value. The next key support level is seen down near 1.2750 and we could see price test that level this week if the current bearish momentum continues. Beyond that, we see key support down near 1.2285 and then 1.2040.
The EURUSD continued losing ground last week, as we can see in the weekly chart below. We are still bearish biased on this market and will continue looking for price action sell signals on any rotation higher this week, to trade in-line with the downtrend from value. The next key support level is seen down near 1.2750 and we could see price test that level this week if the current bearish momentum continues. Beyond that, we see key support down near 1.2285 and then 1.2040.
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