EURUSD – Bear Trend Still Intact, More Downside Available
Selling off 4 days in a row to end last week, the bear trend is still in play and more downside is available The overall trend is relatively ‘stable’, meaning it’s not too volatile, so mild to medium pullbacks are suggested to get short.
(NOTE: To learn about volatile and non-volatile price action trends, click on the link)
I’ll look to sell on a corrective pullback into the role reversal level near 1.2855 or just below. If this level holds, then 1.2566 becomes the first downside support, while 1.2500 and 1.2460 are the next targets lower. So maintaining a bearish bias short term while below 1.2855.
USDJPY – Support Level …... Keep reading