#EURUSD @ 1.05462 runs into an area of resistance and focus is on the trendline support.
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
- EUR/USD runs into an area of resistance and focus is on the trendline support.
- Bears are chipping away at the bullish trend and eyes are on a correction.
EUR/USD has been rallying over the course of the winter months and into year-end. However, there are prospects of a bearish correction in the meantime as the following technical analysis will illustrate.
The bulls are taking out key weekly trendlines as the price moves into the mid-1.0550 resistance area. While the bias is to the upside, there are prospects of a bearish correction as follows:
The price is decelerating on the bid and is starting to erode the trend with a move that is taking out the micro trendline as illustrated above. A break of the 1.0500 level opens the risk of a deep correction for the days ahead.
[/s2If]
Join Our Telegram Group
