EURUSD might face continuous bearish pressure |7th June 21

7 Haz 2021

EURUSD is facing continuous bearish pressure. A further drop is expected if prices break through the 161.8% Fibonacci extension and the 50% Fibonacci retracement . If prices continue to push down, a possible take-profit target would be at horizontal swing low support in line with 61.8% Fibonacci extension and 127.2% Fibonacci retracement . However, failure to push down further will result in resistance from horizontal swing high resistance in line with 61.8% Fibonacci retracement and 127.2% Fibonacci extension . EMA has also just crossed over and is above prices, giving prices an additional bearish pressure.

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