Short - term range in EUR/USD seems to be holding for now. As the Pandemic started to get out of control and with the USD broad weakness back then, the Euro managed to gain significantly on the risk off background. As with the situation starting to stabilise a bit and ''the new normal'' setting in, the pair entered a range as the bullish movement got exhausted.
Why have I taken a short position in EUR/USD? The bearish wedge has been breached, but before that we had a Doji candle formation and a 9-ner on the DeMark TD sequentia indicator. First target for me is the 1.16000 zone as the first support zone for the range. Overall I think the pair will continue its movement down as USD picks up strength.
Why have I taken a short position in EUR/USD? The bearish wedge has been breached, but before that we had a Doji candle formation and a 9-ner on the DeMark TD sequentia indicator. First target for me is the 1.16000 zone as the first support zone for the range. Overall I think the pair will continue its movement down as USD picks up strength.