EurUsd in a very important point
I state this for quite some time: "The EurUsd trend, in the long term, is bearish, and considering fundamentals, will remain so for quite some time and the recent 4 months rise is in fact a correction to this multi-year bearish move".
This will remain my idea as long as we are working with these fundamentals (and FED pausing at 5% or close to this figure doesn't mean a change)
Technically speaking, last week we had a very strong reversal from above 1.1 and this could mark the end of this interim up trend.
In the shorter term, the pair is trading now exactly in confluence support given by the rising trend line and the horizontal 1.07 support and a break down seems very close.
In such an instance, 1.05 support is exposed.
Anyway, even in a shorter term (1-2 weeks) EurUsd is very bearish as long as 1.09 remains the ceiling
This will remain my idea as long as we are working with these fundamentals (and FED pausing at 5% or close to this figure doesn't mean a change)
Technically speaking, last week we had a very strong reversal from above 1.1 and this could mark the end of this interim up trend.
In the shorter term, the pair is trading now exactly in confluence support given by the rising trend line and the horizontal 1.07 support and a break down seems very close.
In such an instance, 1.05 support is exposed.
Anyway, even in a shorter term (1-2 weeks) EurUsd is very bearish as long as 1.09 remains the ceiling
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