Good Day traders !! On this pair we are currently looking at a monthly W pattern that needs to be completed by testing the neckline which is a strong area of support. Going down to the weekly timeframe we have just created a strong level of resistance and also we have a wick that needs to be filled which aligns perfectly with our idea of a Bearish Euro on the short term. On the daily timeframe we are sitting at a strong level of resistance which imply having an impulse to the downside in order to complete an impulse correction impulse pattern. On the 4H timeframe we want to see a market shift from a bullish to a bearish market in order to execute our entry and be looking for a nice 1/4 RR.
Now if you enjoyed this analysis make sure to like and share. In the event you have a different opinion please leave a comment below.
I also made sure to link the previous analysis of Eur/Usd on the comment area for further references.
Safe trade !!
Now if you enjoyed this analysis make sure to like and share. In the event you have a different opinion please leave a comment below.
I also made sure to link the previous analysis of Eur/Usd on the comment area for further references.
Safe trade !!
Trade active:
Almost hitting the target
Trade closed: target reached
