BEARISH EURUSD WEEKLY; Last week produces indecision candle
Nov 15 2015: BEARISH EURUSD WEEKLY; Last week produces indecision candle
(Analysis Based on Weekly charts)
Criteria
1. Long term bearish channel
2. Medium term bearish channel
3. Short term bearish channel (now broken)
4. Price close below weekly SR zone at 1.0795x
5. Recent strong bearish price action
6. Last week closed as a indecision candle
7. Expect price to continue moving down to the 1.0504x support level
NOTE: Wait for price action to confirm the importance of these levels. I don't trade from the weekly chart. I use it to evaluate overall market direction.
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(Analysis Based on Weekly charts)
Criteria
1. Long term bearish channel
2. Medium term bearish channel
3. Short term bearish channel (now broken)
4. Price close below weekly SR zone at 1.0795x
5. Recent strong bearish price action
6. Last week closed as a indecision candle
7. Expect price to continue moving down to the 1.0504x support level
NOTE: Wait for price action to confirm the importance of these levels. I don't trade from the weekly chart. I use it to evaluate overall market direction.
If you find this information useful. Please hit the LIKE button.
I may trade all, some or none of the ideas posted. All of my contributions are for educational purposes only. 'TRADE What You SEE'' and all the best!
