Buyers got trapped, professional selling due to buying climax
We got massive volume spike near the level of 1.1040. Professional started to sell form this point and, later on, we saw weak demand in a low volume. Classic distribution phase on the market. Be careful when buying and watch for potential selling opportunities on rallies. First TP zone is set at the price of 1.0830. Second TP is around the price of 1.0710. Keep in mind ECB interest rate decision in 3 days.
Note
Still bearish view on EUR/USD , watch for selling positions !!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.