EurUsd could drop to 0.95 again
Two days ago I said that the 0.97 zone is offering support for EurUsd and a reversal could follow from this zone.
Although initially, bulls took control and the pair rose towards 0.98, this rise was very short-lived and EurUsd dropped like a stone back to the 0.97 zone.
This for me is a clear indication that bears are not done yet and a new wave of selling is most probable.
Technically, we are in support now and a break here would expose 0.95.
Only a daily close above 0.98 would negate this bearish scenario.
Although initially, bulls took control and the pair rose towards 0.98, this rise was very short-lived and EurUsd dropped like a stone back to the 0.97 zone.
This for me is a clear indication that bears are not done yet and a new wave of selling is most probable.
Technically, we are in support now and a break here would expose 0.95.
Only a daily close above 0.98 would negate this bearish scenario.
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