7 of the last 8 days have been lower. Trading lower so far today.
The EURUSD has fallen in 7 of the last 8 trading days. Yesterday, the pair closed at 1.1211. We are currently trading at 1.1203. The high today reached 1.12116. The low extended to 1.11896. Is the trade as simple as stay below the 1.1211 level is more bearish? Move above and we have an up day, and shorts start to cover? Sounds ok to me.
This is what today looks like on the 5-minute chart. Chop. Chop.
However, the last run higher peeked just above the 1.1211 level but fell back off.... It looks to me, that the sellers are trying to extend the "down day trend" (at least for now).
Stay below is more bearish. Move above, look for some shorts to cover.
