Eur/Usd: Extreme Drops on its way to 1.4200 Soon!

١ نوفمبر ٢٠٢١

As we can see everyone knows that the euro has taken a dive into the deep end recently as we start to see new Daily and Weekly lows. What I believe will occur is the following. The 4h support around 1.5900 is a common area where people will begin to start taking sells as it was a strong area previously. Once people takes some sells at this area, then we will have price jump higher around 1.60-1.62 and then proceed to see some more sells occur. The point of this move would be to stop out people selling at this obvious area of Supply. The only other scenario I see occurring is price floating above 1.6500 for a while before seeing new lows. If you liked the analysis follow me and remember its about adapting NOT predicting. Hit the follow to see more banger post like this! Godbless