EURUSD Chart Technical Outlook support is in sync with the projected AB leg
Selling pressure from 1.0889 resulted in all the initial daily gains being overturned. This negative momentum has continued overnight.
Bespoke support is located at 1.0828. The projected AB leg of a Crab formation is located at 1.0828. The DeMark sequential indicator is close to a corrective 9 count in the 3 and 2-hour timeframe.
Conclusion: Although the immediate bias remains bearish, I look for buyers to return close to 1.0828. The supply zone from May 28 is located at 1.0878. The completion of the Crab Formation is located at 1.0753.
Resistance: 1.0867 (May 27 peak), 1.0878 (supply), 1.0889 (swing high)
Support: 1.0828 (confluence zone), 1.0805 (swing low), 1.0753 (projected bat).
