The EUR/USD found resistance at 1.1463 in last week’s trading session and formed a bearish engulf pattern on the 4 hours chart which opened the door for the bears to sell the pair to as low as 1.1232 before a minor retracement occurred in the pair.

Initial bias this week remains on the downside as 21 and 55 EMA remains crossed to the south and also SSRC still shows more bearish momentum is expected in the pair. A confirm break of 1.1232 minor support(last week’s low) will bring further fall to  1.1143 support.

EURUSDH4

Leave a Reply

Your email address will not be published. Required fields are marked *

*