In yesterday's analysis, I expected EU to reject the bottom band of the Flag pattern
with further bearish
continuation towards the 1.2030 minor support zone
, which was exactly what the market performed. In today's trading session, I will be focusing on short-term selling opportunities. If the bearish
momentum remains strong, we could expect further sell-off towards the launch zone of the flag pattern
(1.1960 area). However, if there's any sudden strong bullish
momentum pushing price above the short-term to medium-term EMAs (18 & 50ema), that'd invalidate the short setup.
The higher timeframe picture remains bullish
, I'm only trying to capitalize on the short-term bearish
sentiment in the market.
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