CG Top Poster Club
- Nov 9, 2008
- Reaction score
In my opinion, the EUR/USD bears have not tested the seventh figure for the last time - if European statistics continue to disappoint, the pair will be under constant pressure, limiting the scale of correction rebounds. But you also need to understand that the lower the pair, the higher the probability of catching the bottom of the price.
Even today's price dynamics of EUR/USD signals the existence of such risks. Momentum hitting a low of 1.0786, the pair reversed and returned to the eighth figure just as quickly. This suggests that many traders in this price area are in a hurry to take profits, thereby slowing downward movement. In addition, the pair is already attracting buyers who are also in a hurry to buy EUR/USD at a bargain price on such lows.