Today's $EURUSD Forex Signal: Bears Compressing Price Down to $1.1260 Area
I wrote last Thursday that bulls seemed to have the advantage, with buying continuing below $1.1300. I thought that a bullish bounce at the new support level of $1.1315 could produce a good long trade entry signal. I also thought a short trade below $1.1315 could be good but only on a failed retest following the breakdown.
We have seen bears, helped by recent strength in the US Dollar, continue to push the price down and compress the price as new lower resistance levels are printed. However, we just get a compression because the support beginning below $1.1300 at about $1.1261 continues to look very firm and make its presence felt. So, we have a close fight between bulls and bears
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