The EURUSD closed at the lowest levels of the year.
The EURUSD looks set to test the 109.00 level overnight, but traders should be aware of the longer term descending wedge which has held as support since 2017. Considering the fact that many traders were looking at the 1.0920 level as a “triple bottom” today, the risk of triggering stops below the 1.0900 level before reversing higher is possible. What I am trying to say here is bears should not get too comfortable and the end of the week “closing” price may be very important tomorrow.
Blake Morrow
