EURUSD has been in an uptrend with multiple higher lows and higher highs, and we reached at major flip/resistance zone.
From here we are beginning to see an exhaustion of the uptrend, as no more new higher lows (confirmed by higher highs) are being made as we speak.
We are also seeing a lot of wicks as well indicating selling pressure, but again, a wick by itself is not a signal. I am looking for a potential pattern here, maybe a double top or triple top which tells us that the trend is exhausting.
I would like to see a break and close below this flip zone at 1.1095. That is what I am waiting for and will be the trigger.
From here we are beginning to see an exhaustion of the uptrend, as no more new higher lows (confirmed by higher highs) are being made as we speak.
We are also seeing a lot of wicks as well indicating selling pressure, but again, a wick by itself is not a signal. I am looking for a potential pattern here, maybe a double top or triple top which tells us that the trend is exhausting.
I would like to see a break and close below this flip zone at 1.1095. That is what I am waiting for and will be the trigger.