We are going to have a quiet trading day as Europe remains closed.
The pair is still under Bearish pressure. It is below EMA 50, EMA 100 and EMA 200 of H4 Chart Timeframe.
1.23100 and 1.22980 are the next downside levels of today.
The real problem for Euro Bulls will start if it breaks below 1.22980. 1.22680 and 1.22300 will be the next targets of the pair and it will not take too much time to achieve those levels.
1.23600 remains as the main resistance and bearish pressure will continue as long as the price stays below 1.23600.
Bulls may come back to the playground after an H4 closing above 1.23600.
Since we are going to see low volumes today, the best strategy can be “wait and see. ” Or short with a stop loss above 1.23600. –
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
The pair is still under Bearish pressure. It is below EMA 50, EMA 100 and EMA 200 of H4 Chart Timeframe.
1.23100 and 1.22980 are the next downside levels of today.
The real problem for Euro Bulls will start if it breaks below 1.22980. 1.22680 and 1.22300 will be the next targets of the pair and it will not take too much time to achieve those levels.
1.23600 remains as the main resistance and bearish pressure will continue as long as the price stays below 1.23600.
Bulls may come back to the playground after an H4 closing above 1.23600.
Since we are going to see low volumes today, the best strategy can be “wait and see. ” Or short with a stop loss above 1.23600. –
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Note
Simply Short
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Disclaimer
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