EUR/USD bear trend resumption?
Fundamentally, not a lot of new updates recently since we didn't have any FED or ECB meeting this month.
Technically, we got a bearish inverted hammer on the weekly chart, and a big daily bear candle.
Support awaits near 1.0990 which is critical in this scenario.
Today's PMIs came in mixed. Although we had some better than expected figures, that didn't encourage buyers to step in and push prices higher.
In my opinion, next week we will see lower prices for the euro and maybe a retest of September lows near 1.09.
Good luck
Technically, we got a bearish inverted hammer on the weekly chart, and a big daily bear candle.
Support awaits near 1.0990 which is critical in this scenario.
Today's PMIs came in mixed. Although we had some better than expected figures, that didn't encourage buyers to step in and push prices higher.
In my opinion, next week we will see lower prices for the euro and maybe a retest of September lows near 1.09.
Good luck
Ramzi Abou Abdallah, CFTe, CMT
Feragatname
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