EUR/USD: Persistent Bearish Channel with Potential Reversal

8 giu 2023

The EUR/USD currency pair continues to be confined within a prevailing Bearish channel, indicating a downward trend. Although there has been an increase in trading volume over the past two days, the main trend remains downward. Within the channel, a Shark pattern has been identified, suggesting a potential reversal in the near future. Additionally, the current price is approaching the critical 61.8% Fibonacci level, which often serves as a significant point for reversals. Considering these factors, we are actively seeking a short setup for this pair.