Ice breaks and EURUSD finally started a bearish movement this week.
on Friday the price managed to break below a strong demand area and successfully closed below daily/4H structure. short term bias is now bearish and next week I will anticipate a bearish continuation to lower structure levels.
HOWEVER, talking about a 1H t.f perspective, things are bit different: the price has formed a perfect ABCD pattern formation and it will most likely retrace to 1.1275 resistance based on the projected CD leg, and boundaries of a falling parallel channel .
then buyers will face a wide resistance cluster and selling rally will most likely continue.
next goal for sellers will be 1.117 support (based on horizontal structure and support of the channel)