Bearish EUR/USD Outlook for Next Week:
Looking ahead to next week, I am bearish on the EUR/USD market.
The MACD is currently positioned below the zero line, signaling downward momentum, although we have seen a MACD cross that suggests a potential entry point for a short position.
Additionally, the price closed below the Point of Control (POC) for the previous week, reinforcing a bearish outlook.
My target for this trade is the untouched POC level at 1.08235. I am considering a potential entry point at 1.08879, where a retracement might offer a favorable opportunity to capitalize on the anticipated downtrend.
The MACD is currently positioned below the zero line, signaling downward momentum, although we have seen a MACD cross that suggests a potential entry point for a short position.
Additionally, the price closed below the Point of Control (POC) for the previous week, reinforcing a bearish outlook.
My target for this trade is the untouched POC level at 1.08235. I am considering a potential entry point at 1.08879, where a retracement might offer a favorable opportunity to capitalize on the anticipated downtrend.
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