Profits And Bearish Breakouts
Also Thursday has proved to be a profitable trading day while traders were able to secure additional gains by using our signals for both currency pairs and the DAX.
EUR/USD – Bearish bias
The pair slipped below 1.1180 and immediately extended its slide toward 1.1130. Bears are back in control and may push the euro even lower despite the already deeply oversold situation. A crucial next target is 1.10 but the potential downward move will not happen straight-lined, so watch out for short-term corrections. A promising level for sellers to jump in will now be at around 1.1230.
GBP/USD – Supports breached but 1.3350 holds
As written in Thursday’s analysis, bears will wait for a break below 1.3350 in order to sell sterling toward 1.32. A lower resistance at 1.35 could attract sellers to jump back in.
We wish everyone a beautiful weekend!
Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
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