Navigating the Bear Market: Entry Points for EUR/USD Traders
Solid ECN – The U.S. Dollar is stabilizing below the 38.2% Fibonacci level against the European currency today, Monday, April 1st, 2024.
The divergence signaled by the Awesome Oscillator could indicate a potential consolidation phase on the horizon.
From a technical perspective, the primary trend for EUR/USD is bearish. The pair will likely regain some of its losses from last week by rising to the 50% Fibonacci level, which coincides with the EMA 50. This resistance level could provide a suitable entry point for retail traders looking to join the bear market.
Conversely, the bear market should be invalidated if the pair stabilizes above the Ichimoku Cloud.