Euro / U.S. DollarShort
Strong bearish dynamic resistance
My analysis shows that EURUSD might fall after reaching the Dynamic resistance, here are the reasons why
1.The overall trend is a downtrend with Bears in control, as we can see from the chart
2.The market is in a Bearish channel meaning bears are in control of the overall trend
3.The Dynamic resistance was tested and respected 2 times meaning there's a high chance it might be respected again, which will cause the market to drop down
As we can see, the Resistance is strong as it was able to push the price all the way down
1.The overall trend is a downtrend with Bears in control, as we can see from the chart
2.The market is in a Bearish channel meaning bears are in control of the overall trend
3.The Dynamic resistance was tested and respected 2 times meaning there's a high chance it might be respected again, which will cause the market to drop down
As we can see, the Resistance is strong as it was able to push the price all the way down
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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.