EUR/USD closes below key support
EUR/USD looks like a sell on rise
Last week's close violated 1.1945, the 23.6% Fibo retracement level of Nov-Jan rally.
Area around 1.1945 also acted as strong resistance in late August/early September 2020.
More selling likely, albeit after a minor bounce.
Risk assets could open higher, pushing USD down during Monday's Asian hours. President Biden's $1.9 trillion stimulus has been approved. Bitcoin is back above 50K, hinting at dollar weakness during the Asian hours.
I would look to sell the bounce...major support is now the 200-day SMA, currently at 1.1808, followed by the 38.% Fibo hurdle at 1.1695.
Strong close above 1.20 would force me rethink my bearish bias.
Last week's close violated 1.1945, the 23.6% Fibo retracement level of Nov-Jan rally.
Area around 1.1945 also acted as strong resistance in late August/early September 2020.
More selling likely, albeit after a minor bounce.
Risk assets could open higher, pushing USD down during Monday's Asian hours. President Biden's $1.9 trillion stimulus has been approved. Bitcoin is back above 50K, hinting at dollar weakness during the Asian hours.
I would look to sell the bounce...major support is now the 200-day SMA, currently at 1.1808, followed by the 38.% Fibo hurdle at 1.1695.
Strong close above 1.20 would force me rethink my bearish bias.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.