EURUSD: Technical Outlook For Next Week
We must admit that for that last two weeks EURUSD is consolidating.
The price is currently trading within a narrow horizontal trading range on a daily.
Taking into consideration that the pair is trading in a bearish trend ,
I still remain bearish biased.
The trigger that I am looking for to catch a bearish continuation is a bearish breakout of a yellow support cluster.
We need a daily candle close below that to confirm the violation.
Then the price will most likely drop lower.
Closest support will be 1.14
In case of a further decline, monitor a major falling trend line .
It will be the next key support.
Alternatively, in case of a bullish breakout of the range,
bullish continuation will be expected.