Hey traders,
What a bearish week for EURUSD .
From 7th of September, sellers keep pushing the pair.
Violating a summer's low the market looks relatively oversold at the moment.
Analyzing a price action on a daily we may spot an expanding wedge pattern.
Its falling support, for now, serves as the closest key support.
Next week wait for its touch and then look for a confirmation to catch a pullback.
*by confirmation I mean a reversal pattern on 4h/1h time frame.
Maybe to be at the safer side wait for when it crosses resistance zone then we go for more buys.
What a bearish week for EURUSD .
From 7th of September, sellers keep pushing the pair.
Violating a summer's low the market looks relatively oversold at the moment.
Analyzing a price action on a daily we may spot an expanding wedge pattern.
Its falling support, for now, serves as the closest key support.
Next week wait for its touch and then look for a confirmation to catch a pullback.
*by confirmation I mean a reversal pattern on 4h/1h time frame.
Maybe to be at the safer side wait for when it crosses resistance zone then we go for more buys.