Euro in a Downtrend : Sell EUR/USD
#EURO2024 #eurousdt #usdoller #Binancepen_spark
EUR/USD remains in a downtrend on the weekly timeframe. Currently, the pair is undergoing a correction/rejection phase, signaling potential downward pressure.
A key support level is set at 1.05, and if the pair closes below this level on the weekly chart, it could trigger a larger down move. The next target could see EUR/USD fall below parity, signaling a significant bearish trend.
Traders should be cautious of upcoming movements and monitor the confirmation of this weekly close for a potential sell opportunity.