The EURUSD in recent days the pair has experienced bearish series as seen in the chart the price hits in 3 occasions the moving average of 62 periods which has acted as a strong resistance which has not yet been broken.
the price at this moment a bearish lost some force which in my view does not rule out that the bearish trend may continue for a few hours.
The graph is that the price has had a couple of disagreements with the momentum of 20 indicating that the price is losing bearish strength. but ... this might indicate to us that the price could be a step backwards or upside correction but .. in the area that is the price using fibonacci price is well below the 0.236 level where also in that area the moving average of 62 periods as mentioned is acting as resistance this indicates that the pair could target a few hours to the moving average of 62 to probably go back to take a bearish turn and reach break or touch the media is that this level 1.09509
This would cause fibonacci level is slightly below the moving average and 62 periods can be above the 0.236 level to finally give them price reaches an upward correction. and in my view the pair could drop a bit more before making that correction
the price at this moment a bearish lost some force which in my view does not rule out that the bearish trend may continue for a few hours.
The graph is that the price has had a couple of disagreements with the momentum of 20 indicating that the price is losing bearish strength. but ... this might indicate to us that the price could be a step backwards or upside correction but .. in the area that is the price using fibonacci price is well below the 0.236 level where also in that area the moving average of 62 periods as mentioned is acting as resistance this indicates that the pair could target a few hours to the moving average of 62 to probably go back to take a bearish turn and reach break or touch the media is that this level 1.09509
This would cause fibonacci level is slightly below the moving average and 62 periods can be above the 0.236 level to finally give them price reaches an upward correction. and in my view the pair could drop a bit more before making that correction
Comment:
eu continue short for the next hours