EURUSD potential for further downside | 26th Oct for FX:EURUSD by desmondlzw

EURUSD potential for further downside | 26th Oct

EURUSD potential for further downside | 26th Oct for FX:EURUSD by desmondlzw

Price has recently broken out from the ascending trendline and can potentially retest at the sell entry price of 1.16202 which is also 38.2% Fibonacci retracement level. Price may then continue its downtrend to the take profit level of 1.15748 which is in line with 78.6% Fibonacci projection level and 61.8% Fibonacci retracement . Our bearish bias is supported by the MA as price is currently trading under it.

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