RaynLim

Potential Retracement Week Ahead

Short
FX:EURUSD   Euro / U.S. Dollar
The overall setup for EURUSD leans towards a Weaker Bullish stance. However, given the impact of Friday's NFP Candle, I anticipate a series of correction moves in the upcoming week. Therefore, I'll be ready to execute whichever trading strategy emerges.

Potential Strategies:

  1. Daily Chart - Bearish Flag Pattern:

  • The Potential Bearish Flag Pattern is nearing the sell zone. You can opt to wait for candlestick confirmation, possibly during Tuesday or Wednesday's opening. Alternatively, consider heading to lower timeframes to await a double tops setup before entering a short position.

  1. Support Retest - 1-hourly Chart:

  • Trend traders might want to keep an eye on the market's retest of the support level on the 1-hourly chart, signaling a potential buying opportunity.

Now, the crucial question: Which side of the chart aligns with your trading strategy? I'm eager to hear your perspective. Please share your insights below!

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