Top Down Analysis
WEEKLY TIMEFRAME
EUR/USD !! It have a downward channel at which we see price action respecting, and when you change from candlestick to line graph we see price currently on the "weekly resistance" plus it respect the 61.8% fib retracement level of the weekly. which gives it more confirmation for a downward continuation, Also positive NFP data that gives the dollar strength.
DAILY TIMEFRAME
So We notice a break of structure in daily from temporary uptrend and now we see a shift of momentum to the downside. so the potential "LOWER HIGH" Is around 1.11700 and "LOWER LOW" AROUND 1.09900. When you pull out the Fibonacci tool we see price retraced 50% and retested the 2nd time. which confirms that the resistance is strong. we also have a key liquity level at 1.10900 where we see price reject
H4 &H1 TIMEFRAME
Last week we saw market manipulation and big rejection from the 50% fib level of the daily. then we had a big drop which confirms a break of structure which smaller timeframe is an early signal for a shift of momentum .so the potential "LOWER HIGH" Is around 1.1100 and "LOWER LOW" AROUND 1.10400
so we see price currently rejecting the 50% fibonacci level twice , so we could dollar cost average at 50% fib level and 61.8% to minimize the risk
our EUR/USD SHORT
target 1=1.10150
target 2 =1.09900
Target 3=1.09100
thank you and please follow me to get more updates
WEEKLY TIMEFRAME
EUR/USD !! It have a downward channel at which we see price action respecting, and when you change from candlestick to line graph we see price currently on the "weekly resistance" plus it respect the 61.8% fib retracement level of the weekly. which gives it more confirmation for a downward continuation, Also positive NFP data that gives the dollar strength.
DAILY TIMEFRAME
So We notice a break of structure in daily from temporary uptrend and now we see a shift of momentum to the downside. so the potential "LOWER HIGH" Is around 1.11700 and "LOWER LOW" AROUND 1.09900. When you pull out the Fibonacci tool we see price retraced 50% and retested the 2nd time. which confirms that the resistance is strong. we also have a key liquity level at 1.10900 where we see price reject
H4 &H1 TIMEFRAME
Last week we saw market manipulation and big rejection from the 50% fib level of the daily. then we had a big drop which confirms a break of structure which smaller timeframe is an early signal for a shift of momentum .so the potential "LOWER HIGH" Is around 1.1100 and "LOWER LOW" AROUND 1.10400
so we see price currently rejecting the 50% fibonacci level twice , so we could dollar cost average at 50% fib level and 61.8% to minimize the risk
our EUR/USD SHORT
target 1=1.10150
target 2 =1.09900
Target 3=1.09100
thank you and please follow me to get more updates