EURUSD: Detailed Technical Outlook 🇪🇺🇺🇸

24. Aug. 2022

On a yesterday's live stream we discussed EURUSD.

Analyzing higher time frames, we can see that the pair is trading in a long-term bearish trend.
The price perfectly respects the boundaries of a major falling parallel channel.

For now, its upper and lower boundaries are the closest points to trade from.
The lower boundary is the closest support from where we will try to catch a pullback trader.
The upper boundary is a strong vertical resistance. From that, we will try to catch a trend-following move.

I guess EURUSD has a very high potential to drop much lower.
A bearish trend continuation is expected within the channel.

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