EURUSD-short based on PA

FX_IDC:EURUSD   Euro / U.S. Dollar
2094 14 37
Price is sideways this days but looking at price action we can see some reasons for a short bias here.

- Ema 200 as resistance
- multiple candlestick rejections from the area
- previous AB=CD pattern shows a big correction finished
- EW corrective pattern WXY (i dont think its a 1-2)
- currency strenght analysis according to my indicators:
USD (recovering from oversold levels)
EUR ("sideways")

I will enter short now, targets would be next areas of S/R

The trendline support can be adjusted many ways, so i dont rely on it.

Best regards.

Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
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Comment: first target hit, moving sl to be, thanks to Draghi may be
Another great call!
boom ! Unexpected :=
Thank you, yes it's too late in this train will be waiting for the other.

Excellent. Respect

but I did not have time to enter the market, where it is better to sell on a pullback?
FullTimeTrader EvgenyLisboa
Hello, right now better stay aside and wait for more price action. Regards.
+2 Reply
Draghi's massage worked. Good job!
1.11260s might be the lowest we see this pair in a fib retracement but overall strongly bullish. I have a bias that it is looking for a breakout upward given it has a bull flag that it has created and respected it's highs and lows for days now. And traders just trading the range within the flag. It may take more days before we see any meaningful action on this pair as the flag is still somewhat in the middle but overall, a short is a good call but not past 1.11260 if the pair is going to respect it's bull flag downside support levels....Salute always, uptight analysis....
FullTimeTrader ImoneyCorp
hello, thanks for comment, i agree 1.1120 would be a nice area to look for longs. regards.
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