Buyers got trapped, professional selling due to buying climax

We got massive volume spike near the level of 1.1040. Professional started to sell form this point and, later on, we saw weak demand in a low volume. Classic distribution phase on the market. Be careful when buying and watch for potential selling opportunities on rallies. First TP zone is set at the price of 1.0830. Second TP is around the price of 1.0710. Keep in mind ECB interest rate decision in 3 days.

Yorum:

Still bearish view on EUR/USD , watch for selling positions !!!