EURUSD Going Down

#trading_idea #EURUSD 💡

💸 #EURUSD - We May See A Further Decline

With Powell's speech coming up later today, the markets are starting to adjust. On the 1-hour chart, the euro has slipped below the 50-period moving average and the 1.1130 resistance level. A bearish engulfing candle suggests that the decline might keep going. The MACD is showing that the bears are in control, and the Bulls & Bears indicator is backing up their strength.

🔽If the price breaks down the middle line of Bollinger Bands the further decline to 1.1101 is possible.

🔼Otherwise, a retest the resistance 1.1130 is likely.

What do you think?🤔

😎 Choose"👎" if you expect a decline and "👍" if you expect a price hike.