• The EUR/USD closed the gap, but it ran into resistance at 0.9980 and crashed again. The price failed to retest the downtrend line, indicating that there is significant downside pressure.
• It has fallen below the 0.9899 static support once more, but the weekly S1 (0.9880) has stopped the sell-off. The bias remains bearish as long as it remains below the downtrend line.
➥ CONCLUSION: A valid breakdown below the S1 (0.9880) and a bearish close below it triggers further declines and may bring short opportunities. The S2 (0.9810) stands as a potential downside target and obstacle.
Good Luck Traders!
• It has fallen below the 0.9899 static support once more, but the weekly S1 (0.9880) has stopped the sell-off. The bias remains bearish as long as it remains below the downtrend line.
➥ CONCLUSION: A valid breakdown below the S1 (0.9880) and a bearish close below it triggers further declines and may bring short opportunities. The S2 (0.9810) stands as a potential downside target and obstacle.
Good Luck Traders!