EurUsd- Will it break support and dive to 1.0750?

Last week, I held a bullish stance on Eur/Usd, anticipating a breakthrough above the crucial 1.1 resistance level. Unfortunately, the pair's inability to surpass this significant threshold led me to close my trade at breakeven, prompting a decision to adopt a wait-and-see approach for further clarification.

Examining the recent price action, it appears that my patience might be rewarded with a clearer picture emerging. Currently, my perspective has shifted to bearish.
The chart illustrates that Eur/Usd is struggling to breach the 1.1 mark and instead continues to decline to support around 1.0920.

This inability to surpass 1.1 and dropping to support after touching this level, signifies weakness, raising the likelihood of a downward move below the support level.
In such a scenario, the pair could experience an acceleration in losses, with the next notable target standing at the critical support level of 1.0750.

تعليق:

Looks like EurUsd broke under support

تعليق:

The break happened and looks genuine.
Continuation to 1.0750 target should be next