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DAY_PROFITS
Jun 8, 2023 12:28 PM

EUR/USD: Persistent Bearish Channel with Potential Reversal Short

Euro Fx/U.S. DollarFXCM

Description

The EUR/USD currency pair continues to be confined within a prevailing Bearish channel, indicating a downward trend. Although there has been an increase in trading volume over the past two days, the main trend remains downward. Within the channel, a Shark pattern has been identified, suggesting a potential reversal in the near future. Additionally, the current price is approaching the critical 61.8% Fibonacci level, which often serves as a significant point for reversals. Considering these factors, we are actively seeking a short setup for this pair.
Comments
WalterMoon
Good EURUSD idea, agree!
JoeChampion
Great view mate!
ArmanShabanTrading
nailed it!
RLinda
Thanks for the post. Great analysis.
DAY_PROFITS
@RLinda, Best regards!
UnitedSignals
Thank you for your work
DAY_PROFITS
@UnitedSignals, Welcome!
vf_investment
Great job!
DAY_PROFITS
basictradingtv
great EU breakdown, also lower imo!
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