Envious_

EURUSD Short Idea - Correction Incoming?

Short
FX:EURUSD   Euro / U.S. Dollar
Hey traders, EURUSD has been in an uptrend for a long period of time now and just recently price has began to consolidate and create two false breakouts out of the range box, which has created a double top pattern. On the daily timeframe, EURUSD is creating a head and shoulders pattern, which confirms that sellers will be coming in. Price wanted to break above the fractal high and failed two times indicating that price may fall down to try and break the fractal low and if it does then this will confirm that EURUSD is going to be moving downwards. An ideal entry for a sell would be to wait for the sellers to break past the support level and let the pullback test that zone as that will indicate a lower high and lower low pattern too. Hope this helps :)

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