EURUSD -0.12% is continuing trading higher and making new highs everyday. However, its currently started trading in a strong weekly supply zone and a potential reversal is possible. Once we break the support area highlighted in the chart, we can expect EURUSD -0.12% to trade lower.
Hi, what's your view on eurusd now that it broke the resistance zone? My personal opinion is it's going to reverse for a big move down. A little bit like we saw on usdcad (consolidation that lasted for months), but instead of a rising wedge like usdcad it's a flat pattern. What do you think?