I have personally stayed out of long trades on EURUSD as we are still very much in a bearish trend.
My forecasting is based upon the next few 4H sessions. If we see lots of indecision in the market around the 1.08 mark then I would be expecting the double top formation to be completed, looking for a confirmation (short entry).
For the confirmation I will be looking for candlestick formations such as the hanging man, bearish engulfing, inside bar breakout and the evening star formation.
Once the double top is confirmed, I would be looking for price to reach previous lows at the 1.08902 mark.
Do you agree? I'd love to hear your argument.
My forecasting is based upon the next few 4H sessions. If we see lots of indecision in the market around the 1.08 mark then I would be expecting the double top formation to be completed, looking for a confirmation (short entry).
For the confirmation I will be looking for candlestick formations such as the hanging man, bearish engulfing, inside bar breakout and the evening star formation.
Once the double top is confirmed, I would be looking for price to reach previous lows at the 1.08902 mark.
Do you agree? I'd love to hear your argument.