EUR/USD Selling Should Continue

EUR/USD Key Levels and Strategy

• Selling the rallies
• Shooting star in the zone
• The target could be 1.0350 zone again
• 1.0430 is the intraday target

MEGATREND MAs: Bearish

EUR/USD Technical Analysis

1. Trend Line
2. Temporary Low
3. Pinbar in the Zone
4. Target zone

Technically the EUR/USD is still bearish. We should see the price moving down as the trend and daily signal show potential down move. However, the momentum of EUR/USD is crucial now. If the price manages to stay below 1.0500, we should see a move down. However, there are still buyers around the M L4. The expectation is still to the downside with the EUR/USD 1.0430 as intraday target. Swing target is 1.0350 zone for the EURUSD.

This analysis is a part of the Megatrend trading course. I have sold the rally in the zone and will keep the trade unless all the way until the intraday target has been reached and scaling out happens (close of 1 position).

Cheers and safe trading,

Nenad