FX:EURUSD   Euro / U.S. Dollar
Although we've been on a bearish trend since March, there has been a few moments where price has tested its previous "lower" high. As you can see by my triangles, price seems as if it is ready to retrace the previous high. On the 2 hour timeframe, I saw a strong bullish candle cross the 200 day ema with the current candle opening above the previous one. Last time there was a retracement was more than likely back in August on the 4 hour time frame where price retraced about 38% of its previous high (May 2021). Let's see if price can retrace our previous high up to at least 38% or more before the bearish trends continues. You would think the usd is stronger but it seems like since 2008's crash, the dollar has progressively been getting weaker. With our current economic situation having slow growth, I plan on riding this retracement up until the chart tells me different.
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