EUR/USD Fake Breakout Sell Opportunity

25 lug 2020

Fake Breakout with 5 consecutive days on the uptrend. Although general trend is looking bullish we expect a healthy retracement from this fake breakout before the big breakout to the upside 1.173+ assuming it passes the key critical resistance. Sell Opportunity to the regions of 1.15, daily indicators still highlight the pair as strongly overbought. It is only a matter of time before this pair retraces, as the USD is set to have a slightly stronger start to the week and the early news coming out of the Germany economy on monday 27th July (08:00 gmt) may tempt in profit taking at these key levels.