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Saturday, April 03, 2021

πŸ’  EURUSD: Will there be a test of the balance 05-09.04.2021?

πŸ’  EURUSD: Will there be a test of the balance 05-09.04.2021?

EUR/USD OANDA:EURUSD

The bullish outperformance continues to melt away. According to new CoT reports, last week's buyers' preponderance has decreased by 18%.
The 1% increase in market volume suggests the true nature of the decline in the medium term.
⚠️ The nearest resistance level within the week is the option week balance level (1.1807).
✅ In case of successful test of the mentioned resistance, we expect decline towards the weekly hedge support zone , which is strengthened by growth of $219 mn upside positions.
Further downside target is the market maker's loss level (1.1627).
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