The EURUSD is very bearish. Technically we can spot bear flag on H4 time frame and as I have shown in my last EURUSD analysis and Session Recap webinars 1.0835 was the place to go short. The last rejection from POC was good for 150+ pips and we can still pinpoint 1.0835 as POC for shorting into rallies. We can spot a confluence of historical sellers, H3 , bear flag top. Above there is a cluster of resistance (flagpole, EMA , H5 at 1.0900 zone ) and MACD is having bearish momentum too. That all tells us that the pair is very bearish.
We should pay attention to 1.0670. As i have been showing a lot of times 1.0670 is a VERY strong support supported by ACCU pivot point too. A strong break of 1.0670 is needed for 1.0592 and lower zones. There is a technical target overshoot below L5 on H4 timeframe. 1.0520 could be reached if 1.0590 break as we add the height of the flag pole to the breakout point of the flag.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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