EUR/USD – Bears eyeing weekly close below 1.0851
The weekly chart looks super bearish, given the current candle failed to hold gains above the descending trend line and eventually ended up almost engulfing previous two weekly candles.
A weekly close today below 1.0851 would be icing on the cake for the bears. That would open doors for a sell-off to 1.05 levels by the year end.
On the other hand, a weekly close above 1.0851 amid oversold intraday conditions leaves the doors open for a technical correction.
A weekly close today below 1.0851 would be icing on the cake for the bears. That would open doors for a sell-off to 1.05 levels by the year end.
On the other hand, a weekly close above 1.0851 amid oversold intraday conditions leaves the doors open for a technical correction.
