Dip buyers can’t get the EURUSD much off the lows. Sellers remain in control into the close.


EURUSD keeps the seller in firm control

The EURUSD is looking to go into the weekend with the bearish bias intact.

Looking at the four hour chart above, the pair fell below the low from 2021 (from November) during yesterday’s trade at 1.11853. The corrective move off of the low today at 11207 could only extend to a high of 1.1173 before rotating back to the downside. The current price trades at 1.11413.

Unless the price can extend back above that low and then the 38.2% retracement of the move down from the Wednesday swing high at 1.1193, the sellers remain in firm control. Move above and there still would be more work to do but the buyers would have had some corrective success back to the upside.

The 1.1100 area is the next downside target followed by a swing area between 1.09806 to 1.1018 on more selling in the new trading week. .

Technical Analysis

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