EUR/USD Forecast: Short

Here is what to expect on EUR/USD

RECAP:

In our previous analysis EUR/USD was trading at 1.20900
We were bearish on the pair but still expected it to be bullish and test the 1.21400 support/resistance
which it did.
The pair triggered our Buy Stop at 1.21100 & hit our TP at 1.21300 enabling us to bank 300 pips on the pair
before going back to the support/resistance at 1.20900-1.20600

WHAT TO EXPECT:

Currently at 1.21600
We expect the pair to be bearish and touch the support/resistance at 1.21400 before continuing its upward trend
If pair breaks below this support/resistance we expect it to test previous support/resistance at 1.20900
On the other hand if pair breaks above 1.21800-1.21600 we expect it to test 1.22 & then 1.23
Note: bearish harmonic pattern formed on the 1H chart
DXY still looks bearish despite bullish US10Y

OUR POSITIONS

Currently @: 1.21600
Sell Stop @: 1.21500
Sell Stop TP @: 1.21300
Sell Stop TP2 @: 1.21000
Buy Stop @: 1.21900
Buy Stop TP @: 1.22100

Link top previous analysis below

Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.