EURUSD has been bearish for the second consecutive week, breaking previous low.
Fundamentally, EUR has had a weaker economy in comparison to US with a stagnating economy. Furthermore, with ECB injecting an additional 750B Euros into the market in form of quantitative easing, the European Dollar has been sent spiraling down.
Upon Friday's closing candle, there were no signs of EURUSD slowing down.
Even with the DXY undergoing technical retracement, EURUSD simply formed a long wicked candle.
We are expecting EURUSD to continue spiralling down this week, thus, await a mild pullback for sell opportunities.
Fundamentally, EUR has had a weaker economy in comparison to US with a stagnating economy. Furthermore, with ECB injecting an additional 750B Euros into the market in form of quantitative easing, the European Dollar has been sent spiraling down.
Upon Friday's closing candle, there were no signs of EURUSD slowing down.
Even with the DXY undergoing technical retracement, EURUSD simply formed a long wicked candle.
We are expecting EURUSD to continue spiralling down this week, thus, await a mild pullback for sell opportunities.