Still in a downtrend, since price never managed to break above the last major swing lower high, what we do watch for is a selling opportunity in the EURUSD.
Another key factor why I am bearish in EURUSD is that obvious stop run occurred at the 1.14730 level. Pay attention to how price spiked massively from the 1.13650 level breaching above previous resistance 1.14730. Instantly price reversed to the down showing no intention to keep climbing.
Being in a downtrend and having in mind that we recently have had a potential stop run to the upside all I am looking for is the price to climb towards 1.14500 zone and look for a sell setup to complete.
In case the price drops there is a high probability to reach the 1.13350, taking out previous short-term support levels.
Another key factor why I am bearish in EURUSD is that obvious stop run occurred at the 1.14730 level. Pay attention to how price spiked massively from the 1.13650 level breaching above previous resistance 1.14730. Instantly price reversed to the down showing no intention to keep climbing.
Being in a downtrend and having in mind that we recently have had a potential stop run to the upside all I am looking for is the price to climb towards 1.14500 zone and look for a sell setup to complete.
In case the price drops there is a high probability to reach the 1.13350, taking out previous short-term support levels.
