After analyzing the market over the past week, EURUSD is on an overall downtrend, but has been on an uptrend for the past week. I am looking at it for a short sale. There is a break of structure on the four hr. The market has a hard time getting past 106.853. It hit the area three times in the past two days, and has not gotten past that area. I feel it will hit the area again, prior to turning around to continue downtrend. Price is currently crossing up over EMA, with momentum and Stochastic facing up.
Trade active:
This is a 1:2 Risk to reward ratio
Trade active:
Idea is still in motion, almost hit SL, but turned around at repeated support zone. Trade Idea pending
Comment:
Original analysis should have said "Short buy" not "short sell," as indicated on the chart TP and SL areas.