Euro / U.S. DollarShort
4 REASONS WHY EUR/USD COULD DIVE AGAIN
1. Our EUR/USD trade has reached its take-profit level last week as expected and is now facing selling pressure at the upper wedge resistance.
2. That price-level aligns with the 61.8% Fib level and a horizontal resistance zone, signaling a potential continuation of the underlying downtrend.
3. Notice that the RSI has already reached its recent high, showing that the recent up-move in EUR/USD is losing momentum.
4. The pair is also forming an indecisive daily candlestick as buyers are losing steam and sellers are joining the market.
2. That price-level aligns with the 61.8% Fib level and a horizontal resistance zone, signaling a potential continuation of the underlying downtrend.
3. Notice that the RSI has already reached its recent high, showing that the recent up-move in EUR/USD is losing momentum.
4. The pair is also forming an indecisive daily candlestick as buyers are losing steam and sellers are joining the market.
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