Wednesday, May 5, 2021 4:50 AM EDT
The EURUSD has formed a rooftop pattern and we could see a move to the downside. At this point, we should be focused on selling the rallies.
The POC zone comes between 1.2060-1.2080. The rooftop pattern base is 1.1990. If the market makes a close below 1.1990 we could expect a downside continuational move towards 1.1953 and 1.1893. The market is bearish now and in my opinion, it is either a breakout or a rejection from the POC zone.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...
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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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