– The EU, after touching the barrier zone of 1.075 as previously commented, had selling force appear for 2 consecutive days because this is a large resistance zone of the Month and Week frames.
Although there is still no clear reversal signal, observing at the D1 timeframe, the last 2 candlesticks have withdrawn their beard when touching this barrier.
- Yesterday closed 1 D1 candlestick indicating market hesitation. However, Blackmantrader is still leaning towards the downtrend in the short term
- Today the EU will rebound to around 1.0745, then will create a reversal signal that pushes the market towards 1.072, aiming further to 1.070.