after the push we see price correcting i will have buystops set at previous highs to catch the impulse
EurUsd price is actually in a technical perspective is supposed to go up but if you look at the Dollar index which is opposite to Eurusd and which has a negatively correlated ( the dollar has made a higher higher and is currently correcting so im expecting the dollar to go up ) and if it does it will pull eurusd down hence im saying EurUsd is a short trade
this is my outlook of the next phase for this pair which is going down
possible bearish flag forming if 5min candlestick patttern form indicating reversal i will be shorting
After a first impulse we line up for another one
after a impulse breakout we get a correction to the point of the break
We had a spike up but price turned sharply at resistance and hit the 200 ema and made a nice rejection
Price broke down now on the 15min and 5 min we are seeing a potential head and shoulders sign of trend changing direction will be looking to get long at the retest of the neckline and stop under the shoulder
FAILED RETEST OF BREAKOUT PRICE BACK IN THE RANGE TO TEST PREVIOUS HIGH
recent drop/ correction landed on a previous support zone i have a buystop place at 28 460 if price decides to shoot up
price currently testing previous support level if it can hold we will have a nice wedge pattern forming to look for the reversal on the big timeframe
we had a strong impulse to the upside price is now forming a flag which is a continuation pattern expecting price to react from the 38.2 -61.8 to give us a nice entry to go long
Recent break of daily wedge to the upside brings me this idea of a further push to the upside to previous resistance on weekly chart