EURUSD: Sellers continue to win!
Greetings, trading aficionados! What are your expectations for EURUSD today?
Yesterday, the pair was under significant selling pressure, resulting in a consistent decline to now trade at 1.073—a drop of 0.12% for the day. As anticipated, it breached the 1.0800 support level.
The recent surge in the USD, fueled by robust US PMI ISM data, has heavily impacted this pair, tilting the outlook towards further decline due to the strong selling momentum currently in play. EURUSD is now approaching a critical defense line at 1.0700. Should this level be breached, it could unveil lucrative opportunities for investors inclined towards SELL positions.
Yesterday, the pair was under significant selling pressure, resulting in a consistent decline to now trade at 1.073—a drop of 0.12% for the day. As anticipated, it breached the 1.0800 support level.
The recent surge in the USD, fueled by robust US PMI ISM data, has heavily impacted this pair, tilting the outlook towards further decline due to the strong selling momentum currently in play. EURUSD is now approaching a critical defense line at 1.0700. Should this level be breached, it could unveil lucrative opportunities for investors inclined towards SELL positions.
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