YGForex

BEARS are still dominating EURUSD.....Growl

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FX:EURUSD   Euro / USA-dollar
Lets start of by understanding what is happening with EUR in general. As we can see last week news data was not in favour of EURUSD in fact showing the weakening in strength of EUR. After which, when we use Ichimoku cloud indicator we can interestingly see a strong bearish bias for EURUSD. We could see a short bullish movement now to the resistance level which will form the fourth lower head. If it happens, it will be the best entry level to short this pair. The strong support level @1.0790 has been tested several times and I believe it will give way soon for EURUSD to continue its journey to the south. Analysis is subjected to change and do stay tune for updates as well as more analysis.
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