EUR-USD
The Euro vs. Dollar currency pair is trading on the H4 chart in a short-term downtrend and is now stuck in the range between the horizontal support and resistance levels. Now it looks like we will break the current support with a bounce from the short-term trend line. This breakout would trigger a sharp downward shift in price, which is also supported by the PPI results that were published a while ago. This price breakthrough could lead to a decline to further local support, which is an ideal condition for us to enter the sell trade.
The Euro vs. Dollar currency pair is trading on the H4 chart in a short-term downtrend and is now stuck in the range between the horizontal support and resistance levels. Now it looks like we will break the current support with a bounce from the short-term trend line. This breakout would trigger a sharp downward shift in price, which is also supported by the PPI results that were published a while ago. This price breakthrough could lead to a decline to further local support, which is an ideal condition for us to enter the sell trade.