EUR/USD:Retracement to get a new Stronger Bearish Impulse SELL

25 Ağu 2022

EUR/USD in the last session, after the price, Broke the Support at Even with the USD Dollar and fell to 0.99 today the market try to have a breath also by all the traders who placed their Buy trade on this range of value. So today the Market is basically in the Sideway area and in a lower timeframe is present a Double Bottom but from our view side, also if the Stochastic is in Oversold and the RSI is turned Bullish, the main trend is definitely Bearish. The Ichimoku forecast isn't changed and the price is still under the principal moving averages. Price may have a retracement until the 38.2% or 50% Fibonacci level but, we don't think over this cause there are several levels of resistance in this range areas. A Pullback is normal for the market to continue its trend stronger than before.