EURUSD: Still discounted!
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Hello traders! 👋
As we approach the end of the trading week, EURUSD remains in the red on this Friday, currently hovering around the 1.071 mark. The outlook remains bearish as the pair continues to trade within a tightening wedge pattern, and both the EMA 34 and EMA 89 are favoring the sellers.
Key Observations:
Current Level: EURUSD is trading near 1.071, struggling to find upward momentum.
Bearish Wedge Pattern: The pair is confined within a narrowing wedge, indicating potential for further downward movement.
EMA Indicators: Both the 34-day EMA and 89-day EMA are aligning with the bearish trend, providing additional resistance to any bullish attempts.
Trading Outlook:
With the prevailing bearish sentiment and technical indicators supporting the sellers, the focus remains on short positions.
Stay vigilant and consider these factors in your trading strategy. Happy tradi
As we approach the end of the trading week, EURUSD remains in the red on this Friday, currently hovering around the 1.071 mark. The outlook remains bearish as the pair continues to trade within a tightening wedge pattern, and both the EMA 34 and EMA 89 are favoring the sellers.
Key Observations:
Current Level: EURUSD is trading near 1.071, struggling to find upward momentum.
Bearish Wedge Pattern: The pair is confined within a narrowing wedge, indicating potential for further downward movement.
EMA Indicators: Both the 34-day EMA and 89-day EMA are aligning with the bearish trend, providing additional resistance to any bullish attempts.
Trading Outlook:
With the prevailing bearish sentiment and technical indicators supporting the sellers, the focus remains on short positions.
Stay vigilant and consider these factors in your trading strategy. Happy tradi
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