EURUSD tends to decrease when it encounters resistance
Zaktualizowano
The EURUSD appeared to be on firm footing on Monday after falling below the psychological barrier of 1.10 on Friday. However, the recovery is unlikely to last long as much weaker-than-expected German Ifo data and rising bearish momentum in the 1D timeframe are keeping the near-term trend under pressure.
Additionally, last week's (1W timeframe) long upper shadow and the repeated failure of the weekly close to break above the 1.1000 threshold exacerbated the negative signals of the momentum.
Currently, the price is holding above the 38.2% Fibonacci retracement of 1.0900 of the 1.0723 - 1.1009 uptrend line, which is expected to show a slight bullish bias, but more work on the upside (e.g., a close above 1.0950) would be needed to remove the downside threat; otherwise, a continuation of the bearish structure would be expected.
It fell below the threshold of 1.0900 and the 20-day SMA (1.0875), which will likely lead to further declines after the completion of the reversal pattern and the double top. It is recommended to go short at the highs.
Additionally, last week's (1W timeframe) long upper shadow and the repeated failure of the weekly close to break above the 1.1000 threshold exacerbated the negative signals of the momentum.
Currently, the price is holding above the 38.2% Fibonacci retracement of 1.0900 of the 1.0723 - 1.1009 uptrend line, which is expected to show a slight bullish bias, but more work on the upside (e.g., a close above 1.0950) would be needed to remove the downside threat; otherwise, a continuation of the bearish structure would be expected.
It fell below the threshold of 1.0900 and the 20-day SMA (1.0875), which will likely lead to further declines after the completion of the reversal pattern and the double top. It is recommended to go short at the highs.
Uwaga
💵 EURUSD BUY 1.0930💵✔️TP1 1.0950
✔️TP2 1.0970
❌SL 1.0890
Uwaga
💵 SELL XAUUSD 2039 - 2041 🪙🪙🪙💲TP1 2035
💲TP2 2030
🔴 SL 2047
Uwaga
💵AUDCAD SELL 0.90370💵❌SL 0.90625
✔️TP 0.90160
✔️TP 0.90000
Uwaga
XAUUSD SELL 2046- 2048TP1 2041
TP2 2035
SL 2053.
Uwaga
💵 SELL XAUUSD 2039 - 2041 🪙🪙🪙💲TP1 2035
💲TP2 2030
🔴 SL 2047
Runing + 60pips
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