EUR/USD, some correction needed before further downside movement

9 Ağu 2021

As it can be inferred from the chart, after NFP news release last Friday, the price managed to fall dramatically. Our bias still remains bearish for this one. We will definitely be looking for more short positions after a nice correction is complete. Our short-term BUY target is set at a previous support now turned resistance, which also aligns with 50% Fib retracement level.

Happy trading, everyone!