Welcome to this analysis where we are looking at the EURUSD 2-hour timeframe perspective, the recent events, the current formational structure, what to expect next times and how to possibly handle the situation, since EURUSD continued to form its top and developed heavy bearish volatile movements to the downside where it is now lying and is showing some interesting signs which I detected and important to consider at the moment for next outcomes, currently there are more bearish objectives than bullish which we should not keep by side for now.
Looking at my chart you can watch this triangle-formation forming with the blue trendlines, furthermore, you can watch the previously established downside impulse and the EMA resistance within the triangle. Besides that the chart is building this wave-count currently formed the wave B of the major wave count and setting up to form the next wave C, when this wave-count finishes fully it can result into a bearish outcome providing heavy volatility to the downside, for now, this is a more likely scenario than the bullish case.
Considering the more likely bearish scenario, this mechanism can be traded either aggressively with immediate entry or conservative with entry after confirmation, although the aggressive entry is also possible here the conservative one will be much smarter as it will provide the best set up to enter, when EURUSD has reached the downside targets it has to be elevated if it follows up with bearishness or manages to somewhat reverse in the structure, till then the main direction is more suggestible to the downside.
In this manner, thank you for watching, support for more market insight, good day to you, and all the best! “The men on the trading floor may not have been to school, but they have Ph .D.’s in man’s ignorance.”
Information provided is only educational and should not be used to take action in the markets.