EURUSD on Friday hits a key resistance at 1.17979, trend is still bearish as the lower low and lower high structure is still in place, a daily candle bearish close to the downside should move price to the support at 1.17012 to form a potential head and shoulder pattern, and a bullish breakout could push price to hit the next resistance at 1.18964.
I have a bearish bias for the week; I would be looking for sell opportunities if price closed below this current resistant level, and if a breakout occurs above this level, I would be looking for short term long towards the next resistance 1.18964
Disclaimer: What I have shared above is not a financial or investment advice, it’s an opinion that could be helpful for educational purposes only, whatever trading decision you make is at your own risk.
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