• Vasily Trader

EURUSD: Technical Outlook For Next Week

Hey traders,

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.