XMR/USD charts bearish engulfing pattern By FX Street

© Reuters.

  • charted a bearish engulfing pattern as the price went down from $71.50 to $68.70.
  • Bulls need to protect support at $67 to prevent further downward movement.

Bears took over the XMR/USD this Tuesday following two consecutive bullish days. The bears garnered enough momentum to chart a bearish engulfing pattern which means that the price is probably going to go down even lower. The bulls need to protect the $67 support level to prevent further downward momentum.

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