EURUSD has consolidated for the past 2 weeks amid a strengthening dollar.
Throughout the consolidation, constant rejections near 1.20 psychological level were seen even as the lows were getting higher.
It then led to stronger selling pressure in the last 2 trading days and the low was finally lower this time.
A bearish flag was then formed as a result and we can continue to sell.
This week, we expect EURUSD to reach 1.18 and then beyond 1.17 in the next 2 weeks.
Throughout the consolidation, constant rejections near 1.20 psychological level were seen even as the lows were getting higher.
It then led to stronger selling pressure in the last 2 trading days and the low was finally lower this time.
A bearish flag was then formed as a result and we can continue to sell.
This week, we expect EURUSD to reach 1.18 and then beyond 1.17 in the next 2 weeks.
