EURUSD – Bearish Bias – Looking to Sell a break of 1.3014 (35 pip stop)

by Admin

EURUSD – Selling pressure continued from Friday’s high trade (1.3128) resulting in EURUSD posting a negative daily performance yesterday. The fact that the dip was bought is a concern (and the USD Index has posted a daily doji). Although there has been some selling pressure overnight, and the bias is mildly bearish, with the last three days price action posting little net change, we express caution this morning. The profit targets will be: 1.2972, 1.2933 and 1.2900.

EURUSD

Resistance levels are: 1.3047, 1.3124 and 1.3177.