EURUSD - Still in a downward trend.

FX_IDC:EURUSD   Euro / U.S. Dollar
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.


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