EUR/USD: Bears Dominate!
The EUR/USD pair remained under bearish pressure for the second consecutive session, hovering around 1.0720 during Monday’s Asian trading hours. The pair was weighed down by a stronger US dollar and political uncertainty in Germany.
As seen on the 1-hour chart, the technical outlook favors continued downside momentum, with a potential target towards support around 1.0688. A rejection of the 1.0742 resistance could confirm this bearish move, creating an opportunity for short positions.
As seen on the 1-hour chart, the technical outlook favors continued downside momentum, with a potential target towards support around 1.0688. A rejection of the 1.0742 resistance could confirm this bearish move, creating an opportunity for short positions.
Trade active
.Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.