Euro / DollaroShort
EURUSD Oversold, Awaiting Retracement.
EURUSD has completed 3 waves of bearish trend over the past 2 months, with USD strengthening and climbing.
As we are expecting a pullback from the Dollar, and with EURUSD being oversold at the moment, await a retracement back to previous support levels for sell opportunities.
Depending on the price action during the pullback, we are looking at first level 1.0956 - 1.0940.
However, if the pullback is strong, the second level of resistance will be the broken 4-month Demand zone at, 1.1000 - 1.0985.
As we are expecting a pullback from the Dollar, and with EURUSD being oversold at the moment, await a retracement back to previous support levels for sell opportunities.
Depending on the price action during the pullback, we are looking at first level 1.0956 - 1.0940.
However, if the pullback is strong, the second level of resistance will be the broken 4-month Demand zone at, 1.1000 - 1.0985.
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