EUR/USD: Bearish Forecast and Trading Opportunity
The current EUR/USD chart reflects a strong bearish trend with the price below both the 34 and 89 EMAs, a clear sign of strength from the sellers. Resistance and support levels are important in this analysis: the 89 EMA is currently a major resistance, preventing any recovery in the price, while the large yellow support area on the chart, where the price has found stability, could become a bottom-fishing point for a recovery.
Also, if the price fails to find stability at the support area, we can expect the price to continue falling further.
Also, if the price fails to find stability at the support area, we can expect the price to continue falling further.
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