EURUSD: Selloff Hinted at Key Trend Line
Strategy: Pending Short
EURUSD has followed up a bearish Deliberation candlestick pattern with a pullback to support at a major rising trend line established from January’s swing low. Negative RSI divergence reinforces the case for a downside scenario, adding credence to the longer-term bearish setup we identified last week. We will look for confirmation on a daily close below the trend line to enter short.
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