The EURUSD continued its bearish momentum last week and broke below the daily EMA 200 as you can see on my daily chart below. This fact gives us further confirmation of bearish reversal scenario. The bias is bearish in nearest term testing 1.2900 – 1.2850 support area. Immediate resistance is seen around 1.3030. A clear break above that area could lead price to neutral zone in nearest term testing 1.3080 – 1.3100/20 but overall I still prefer a bearish scenario with sell on rallies strategy.
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