EURUSD Will Go Down From Resistance! Short!

Please, check our technical outlook for EURUSD.

Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is trading around a solid horizontal structure 1.065.

The above observations make me that the market will inevitably achieve 1.059 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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Comment:

I stand by my prediction and my idea is confirmed by the fact that the pair is moving towards the target!