EU is coming closer to a major support/ supply zone on the daily chart it has bounced off this support 3 times already. The inversed head and shoulders i posted yesterday still holds as todays daily candle was a big red candle which could push the price farther down breaking the head and shoulders or consolidating here until bullish momentum can push the price back up . Oversold on the 1H, itching closer to oversold on the 4hr and low on the daily chart. We are red on the ema cloud and under the 50 ema which are signs to go short, but considering if we hit the major support i think that could bring a lot of bullish momentum and push up the price before it continues to go down. EU seems to have been moving sideways for some time waiting for a big move. The push to the downside could be the push it needed to start moving in a direction again, or the major support bounce could start a new bullish uptrend. My trading plan is to wait for a clear entry point either at the major support for a buy, or if i start to see bullish momentum in the inversed head and shoulders ill place a buy once i see a green candle above a bullish engulfing candle.
