VasilyTrader

EURUSD: Important Decision Ahead! Scenarios for Next Week:

Long
OANDA:EURUSD   Euro / U.S. Dollar

EURUSD is facing a major point of confluence.
1.206 - 1.209 is the area based on a support line of a rising channel and December's local daily horizontal support.

With a quite strong bearish momentum this week, we must consider two potential scenarios:

Bearish - in case of a daily breakout of the underlined confluence zone, the market can fall even to lower structure levels.
1.195 is the next closest strong horizontal support to consider as the goal for sellers.

Bullish - we must remember that technically EURUSD is still trading in a bullish trend .
In case if the confluence area is respected and we see clear reversal clues, we may expect a bullish reaction.
The next closest resistance will be 1.22

For now, I am still bullish biased and on the side of the major trend.
But who knows!


Please, support this idea with like and comment! Thank you!

Comments

Bearish unless there are major news. Biden's stim package was rumoured and there is always a rule buy the rumour sell the fact. USD needs a correction before further downside and I think EURUSD needs to visit 1.20 upcoming week, retest the breakout and carry on.
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+3 Reply
@Matl101, thank you for comment my friend!
Reply
as USD getting stronger...then bearish will
+2 Reply
VasilyTrader Worldwisher23
@Worldwisher23, thank you for comment buddy 🙏
Reply
Bearish i’d say
+1 Reply
VasilyTrader importantCode12562
@importantCode12562, thanks!!!
Reply
Are you bullish or bearish on EURUSD ?
+1 Reply
SO CLEAN
Reply
VasilyTrader AlkalineFX
@AlkalineFX, thank you bro)))
Reply
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