EURUSD → Correction after false breakdown before further fall

27 nov

EURUSD is taking a chance amid the local correction of the dollar. The currency pair can test the local highs. But! You need to be careful as there will be a lot of news today.



Fundamental background is generally negative. (Trump's victory, tariffs for European export goods, lower interest rates and so on).
This all accompanies the global and local downtrends. Accordingly, in our case, since a false support breakout is forming on the chart, we should wait for a retest of resistance and reversal patterns to further consider selling attempts with the purpose of further decline.

Resistance levels: 1.0606, 1.065, 1.076
Support levels: 1.0517, 1.044, 1.033

Accordingly, we follow the nearest resistance, if bears behave aggressively on the background of the news, the price will continue to fall from these areas

Rate, share your opinion and questions, let's discuss what's going on with ★ EURUSD ;)

Regards R. Linda!