DirtyBoss

EURUSD Retracement

Short
FX:EURUSD   Euro / U.S. Dollar
1
EURUSD is in a downtrend, and has been in a retracement into equilibrium. The two white boxes are the possible zones in which price can retrace to. The 38.2 fib zone is in confluence with the kumo flat bottom, which depicts a strong resistant level. I can also see a possible bearish head and shoulders pattern forming. If price can break the first trend line then then the price will fall again.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.