EUR/USD Price Outlook: Is this about to drop to 1.14?
Dear traders, on 1 June 2020, I published an idea on EURUSD titles " Buying the dips" where I mentioned that EURUSD will reach 1.20. At that time EURUSD was near 1.11
You can check the idea below
EUR/USD reached 1.20 a few days ago but the bulls were unable to take the price beyond that level. In fact, EURUSD is consolidating between 1.17 and 1.20 for almost two months.
Current price action indicates that EUR/USD may be creating a topping pattern. My preferred approach to trade EUR/USD would be to sell it when it reaches the resistance level and then wait for the bearish wave to start. Possible TP can be 1.14 if the downtrend starts.
You can check the idea below
EUR/USD reached 1.20 a few days ago but the bulls were unable to take the price beyond that level. In fact, EURUSD is consolidating between 1.17 and 1.20 for almost two months.
Current price action indicates that EUR/USD may be creating a topping pattern. My preferred approach to trade EUR/USD would be to sell it when it reaches the resistance level and then wait for the bearish wave to start. Possible TP can be 1.14 if the downtrend starts.
