EURUSD Confirms Bearish Pattern Afterf Breaking Below 1.1000
EUR/USD Confirms Bearish Pattern After Breaking Below 1.1000
On October 4th, EUR/USD broke down from a key support area at 1.1000, a significant psychological level for the pair. This former support zone has now turned into resistance, aligning with the neckline of a double top pattern.
The likelihood of a continued bearish movement is increasing, supported by two strong bearish indicators. After any minor corrections, we may see EUR/USD moving down to 1.0875, 1.0800, and potentially to 1.0700.
You may find more details in the chart!
Thank you and Good Luck!
PS Support with like and comments if you find this analysis useful for your Trading day
On October 4th, EUR/USD broke down from a key support area at 1.1000, a significant psychological level for the pair. This former support zone has now turned into resistance, aligning with the neckline of a double top pattern.
The likelihood of a continued bearish movement is increasing, supported by two strong bearish indicators. After any minor corrections, we may see EUR/USD moving down to 1.0875, 1.0800, and potentially to 1.0700.
You may find more details in the chart!
Thank you and Good Luck!
PS Support with like and comments if you find this analysis useful for your Trading day
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