Good day forex traders.
It is the second day of the trading week and i hope you are trading fine.
In the weekly EUR/USD forecast i mentioned that we might see a slow climb towards the consolidation region of 1.2330. The overall market sentiment was bearish too.
Looking at the EUR/USD chart above the currency pair did attempt to reach 1.2330 despite a bearish forex gap. I LOVE IT WHEN MY CHARTS WORK!
The EUR/USD was bearish for the past few hours and we might be headed towards 1.2200.
While apparent signals from the ECB on further possible easing spurred the currency pair initially, worries regarding a global slowdown overwhelmed sentiments. China reported that imports grew lesser than expected further adding to the dampened outlook.
Pay attention to the momentum as we approach 1.2200.
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