All Red X are where Previous Lows were taken out with new price movement.
>>Last week movements (Green to Red Vertical Lines)<<
Seeing the double bottom completion last week Tuesday with a price push higher. We also saw some fundamentals (news spike) pushing EU lower. If a news spike fails to go lower than the double bottom lows this indicates more buying pressure.
Note that only ONE low was taken out in last weeks price movement (check white text) then price returned to the highs completing the double top.
>>This week EURUSD movements (Red Vertical Line to current price)<< Bearish Weekly Bias
We can see the Triple Top (3 red boxes) or even a Double top (2 red boxes). The double top didn't go higher than the 1st red box high that's a sign of selling with confirmation of the triple or double tops. Price also failed to hit the 1.1200 area which also shows selling pressure. (There we have confirmations - Triple Top, Double Top, 1,120 failed to reach plus Sunday price movement showed signs of selling)
This week starts at the red vertical and horizontal line where price opened at 1.11682, it then bought during Asian session and the real direction started at London.
All Euro-London Opens (yellow text) gave traders sell entries if you missed any of the previous days entries. Another sell confirmation was the the ABC pattern formed where we always look for Entries at the C Label. Pushing Price lower to where we are at now.
What Do I Expect Now - I'm looking at the 1.10 area with the lows being a target also for some reversal in my zone. We May see some selling then buying, but I will do another EU chart with some proper Analysis..
Take Care All Have A Great Weekend
Some Prev Charts
s3.tradingview.com/p/p51GHR1r_mid.png
s3.tradingview.com/n/N0FDcdqn_mid.png
s3.tradingview.com/q/qZOZkcel_mid.png
s3.tradingview.com/9/9LRq18YX_mid.png
>>Last week movements (Green to Red Vertical Lines)<<
Seeing the double bottom completion last week Tuesday with a price push higher. We also saw some fundamentals (news spike) pushing EU lower. If a news spike fails to go lower than the double bottom lows this indicates more buying pressure.
Note that only ONE low was taken out in last weeks price movement (check white text) then price returned to the highs completing the double top.
>>This week EURUSD movements (Red Vertical Line to current price)<< Bearish Weekly Bias
We can see the Triple Top (3 red boxes) or even a Double top (2 red boxes). The double top didn't go higher than the 1st red box high that's a sign of selling with confirmation of the triple or double tops. Price also failed to hit the 1.1200 area which also shows selling pressure. (There we have confirmations - Triple Top, Double Top, 1,120 failed to reach plus Sunday price movement showed signs of selling)
This week starts at the red vertical and horizontal line where price opened at 1.11682, it then bought during Asian session and the real direction started at London.
All Euro-London Opens (yellow text) gave traders sell entries if you missed any of the previous days entries. Another sell confirmation was the the ABC pattern formed where we always look for Entries at the C Label. Pushing Price lower to where we are at now.
What Do I Expect Now - I'm looking at the 1.10 area with the lows being a target also for some reversal in my zone. We May see some selling then buying, but I will do another EU chart with some proper Analysis..
Take Care All Have A Great Weekend
Some Prev Charts
s3.tradingview.com/p/p51GHR1r_mid.png
s3.tradingview.com/n/N0FDcdqn_mid.png
s3.tradingview.com/q/qZOZkcel_mid.png
s3.tradingview.com/9/9LRq18YX_mid.png