LeoPrime Daily Market Analysis

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EURUSD under bearish pressure; Likely to fall to 1.17150

EURUSD under bearish pressure after the earlier downward reversal with the daily candlesticks pattern Bearish Engulfing from the resistance area lying between the strong resistance level 1.19000 (top of the previous waves (iii) and 1) and the upper daily Bollinger band. Given the strong bearish euro sentiment seen across the FX markets today – EURUSD is likely to fall further toward the next support level 1.17150 (low of the previous corrections (iv) and 2).

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