EurUsd could drop to 1.05 zone

4 בספט׳ 2023

In my previous EurUsd analysis I wrote that the break of the one-year rising trend line could signal further losses for the pair and traders should keep an eye on the 1.09 zone, suggesting selling above this figure.
EurUsd reversed perfectly from resistance leaving a long-tailed continuation Pin Bar on our chart suggesting bears are very strong.
Going further, I expect further weakness for the pair and I'm looking for a drop to important 1.05 very important zone support in the medium term.
The strategy should be sell rallies and only a daily close above the recent high would negate this bearish scenario.