EURUSD reversed from a daily broken structure and it's making lower highs and lower lows.
Price is moving within a 4hour bearish correction and it has the potential to continue moving lower.
Price has been rejected at resistance key levels for couple of times now.
Breakout of Bearish Correction trend line will move price (much) lower.
Lets not forget that the pair is very bearish due to massive Head & Shoulder Pattern on weekly chart.
Price formed a rising wedge,broke out of ascending trendline and is currently retesting broken level.
Price is forming a bearish corrective structure and has potential to reverse and continue downward move.
Will be looking for short set ups on lower time frame.
Support at the 61.8% level from the latest low and high is being tested as support. Daily momentum is posting weak signals and likely not enough to push price through the golden ratio.
The ADX is still in a trend strength zone, and the directional index lines are flattening out. This looks lie a picture of a correction against a new near-term bullish...
Bullish divergence in Crude Oil (WTI) H4 opening for correction
Bullish divergence in Crude Oil (WTI) H4 opening for correction back towards 35$ (round number),
34,80$ supportline and 34$ (0.38 Fib support).
This scenario might play out, if the ECB rate decision, today 13:45 CET, disappoints markets, e.g. postponing further ratecuts and
QE measures to the...
