EUR/USD
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The Euro has just reached the bottom of a potential sell-zone which I have been watching for almost a week to be hit. This sell-occurs within 4 confluences.
- A fourth lower high since the trend reversal starting at the beginning of the New Year.
- In between the 61.8% & 78.6% Fibonacci's.
- The edge of a descending trend line, going back all the way to March of 2018, respected 5 times.
- An over extended bull-run
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I've been watching this current lower-high being formed for roughly 2 weeks. With over 300 pips on the table to take the the Euro short, there is no need to rush into this setup, as fundamentals out of either the Euro-zone or the United States could cause this pair to disregard the 4 confluences identified above. My first target for this week into next upon a clear 4-hr break to the downside would be 1.1225 with further targets much, MUCH lower. Keep in mind, this pair has been on a daily bear-trend for 1 year, 3 months. We'll use this to our advantage in the coming weeks.
This sell zone is between 1.1358 & 1.142
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The Euro has just reached the bottom of a potential sell-zone which I have been watching for almost a week to be hit. This sell-occurs within 4 confluences.
- A fourth lower high since the trend reversal starting at the beginning of the New Year.
- In between the 61.8% & 78.6% Fibonacci's.
- The edge of a descending trend line, going back all the way to March of 2018, respected 5 times.
- An over extended bull-run
—————————————
I've been watching this current lower-high being formed for roughly 2 weeks. With over 300 pips on the table to take the the Euro short, there is no need to rush into this setup, as fundamentals out of either the Euro-zone or the United States could cause this pair to disregard the 4 confluences identified above. My first target for this week into next upon a clear 4-hr break to the downside would be 1.1225 with further targets much, MUCH lower. Keep in mind, this pair has been on a daily bear-trend for 1 year, 3 months. We'll use this to our advantage in the coming weeks.
This sell zone is between 1.1358 & 1.142