EurUsd remains bearish
Yesterday, on the back of FOMC, EurUsd spiked up around 100 pips.
However, the single currency remains grossly bearish and will be so as long as is trading under 1.2 figure.
In my opinion, rallies close to 1.2 should be sold and even if we target 1.19 recent low we still can find a good R:R trade.
On the other hand, a sustained and conclusive break above 1.2 would negate this bearish scenario.
All the best
Mihai Iacob
However, the single currency remains grossly bearish and will be so as long as is trading under 1.2 figure.
In my opinion, rallies close to 1.2 should be sold and even if we target 1.19 recent low we still can find a good R:R trade.
On the other hand, a sustained and conclusive break above 1.2 would negate this bearish scenario.
All the best
Mihai Iacob
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