eurusd h4 best level to short/hold tp +100 pips

🔸Hello traders, let's review the 4 hour chart for EURUSD today. Ongoing distribution in
progress going into FOMC we are trading in neutral trading zone right now, so no trades
are recommended. I suggest to wait for the FOMC data, dust settles, then get ready to
re-short EURUSD from overhead resistance, more details on the chart.

🔸EURUSD ongoing correction/downtrend set to resume after distribution pattern
completes later, currently expecting more upside in EURUSD before reversal / rejection
from overhead resistance near 0750/0775 premium prices, bears should focus on
short selling from resistance. Strong prior downtrend unlikely to reverse, unless
we get a strong upside breakout above 0780/0790, which will invalidate the bearish
outlook mid-term.

🔸Recommended strategy for EURUSD bears: short sell rips/rallies, short EURUSD from
overhead resistance closer to 0750/0775, SL fixed at 0790, TP1 +50 pips TP2 +100 pips,
keep in mind this is a swing trade setup, so naturally more patience required as we
are currently locked in tight range into the distribution stage. good luck traders!

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Comment:

flat going into FOMC / no position today

Comment:

usdcad h8 advanced xabcd buy/hold setup swing

Comment:

gold 4hour overview of key s/r levels