abdal
Short

EURUSD Short Setup Based on Weekly & H4 Indications

FX:EURUSD   Euro Fx/U.S. Dollar
Comments are appreciated. EURUSD             has put a nice bearish weekly Doji and also a bearish H4 candle. On the H4 chart, I see an opportunity for a possible short scenario with a break below 1.118, which will become a resistance. A highly possible retest and fail. In that situation, a short position entry at 1.117 will target around 1.0675. The pair might retest 1.139 and fail. If it does, I see another short entry too. Another scenario which is not in the chart is retest the near resistance at 1.128 and fail.

To sum up, to possible short scenarios:
1) An immediate break below 1.118
2) Retest and fail of 1.139

Thank you
Great chart. I really like how you plotted a few different scenarios.
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I applaud this simple but most probably effective analysis.
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