As I earlier predicted, EURUSD nicely bounced from a key weekly support level. Even though that Friday was quite bullish for the pair, you must remember that the trend still remains strongly bearish.
To catch a trend-following move, here are two resistance for you to watch next week:
Resistance 1 is based on a trend line that the price started to respect since June. Serving as a strong support for a very long time it has been broken recently. Now it turned into a resistance and from that, I will look for a confirmation to sell.
Resistance 2 is based on a trend line matching the lower highs on a 3 days chart. Three times in a row we saw a strong selloff from that. Wait for its test and look for a confirmation to sell.
If you are looking for buying opportunities and you missed a pullback from the underlined blue support I would suggest staying away from trading the pair for now due to a strong dominance of sellers.
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