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Adambulmantrades
Mar 27, 2024 7:38 PM

EURUSD SHORT Short

FX:EURUSD1D
Euro Fx/U.S. DollarFXCM

Description

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head and shoulders pattern on the eurusd pair, looking for price to continue making lower highs and lower lows and continue down to support.

strong dollar is also pushing this pair down.

Comment

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still looking at shorts, and trade still in play, better price to get in at.
Trend AnalysisChart Patterns
Comments
debodtpaul
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you dont think its a reversal now?
Adambulmantrades
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@debodtpaul, dollar is strong and i believe its going to maintain its strength for the time being with them keeping interest rates unchanged and inflation still high, which falls in line with the technicals of what im seeing, a head and shoulders which is on track to push back down to 1.05000 a strong psychological level. i will be looking at a possible reversal from 1.05000 support depending on what the market is doing.
Hope this helps
debodtpaul
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thank you! how far up can it keep going till it drops again?
Adambulmantrades
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Price can do what it wants so I only react to the market, I will be looking at getting in on a break and re-test of 1.08000 if everything aligns with my trading plan.
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