The Currency Pair had shown a good move upside in a parallel channel for almost 1yr4month, Recently a breakout was seen with a shortfall in the parallel channel indicating negativeness.

On the other hand we are assuming a Double Top formation, which will be complete if EUR/USD close below 1.172 level.

RSI is indicating negativeness below 39.56

In Macd we have seen Lower Highs and Lower Lows which also suggest Negativness.

50 EMA has also acted as a strong Support and Resistance for the pair, this week and next week closing below the Ema will give another strong confirmation.

Advice : To Sell EUR/USD below 1.17200 with a SL 1.21000 for a TP : 1.1325-1.08725

EUR/USD

Jul 02 2021

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