The EUR/USD pair is in a strong downtrend.
It witnessed some buying at lower levels yesterday but it failed to hold on to the momentum.
The bulls were not confident to buy at higher levels and the pair is facing substantial resistance at the supply area marked by us in the chart.
Hence we expect the pair to make a face selling pressure for now and the supply area is the ideal place to short.
It witnessed some buying at lower levels yesterday but it failed to hold on to the momentum.
The bulls were not confident to buy at higher levels and the pair is facing substantial resistance at the supply area marked by us in the chart.
Hence we expect the pair to make a face selling pressure for now and the supply area is the ideal place to short.
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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.