Just an idea Short EUR/USD Still in a downtrend channel and on weekly chart retested the H & S neckline before bearish continuation
Just an idea EUR/USD still bearish to me and currently testing the up boundaries of red downtrend channel at 1.18 and failure to break it will resume its downtrend.
Short EURUSD Just an idea and an update on my previous views
Just an idea EUR/USD broke daily uptrend, Short in play till 1.19 area to form the right shoulder (if longerterm daily uptrend not broken) Long Eur/USD will be in play.
I am bullish on Euro and anticipate next target to be 1.2180 after clearing last week 1.2080 area. In addition, DXY is currently bearish. On Monthly TF, if Euro closes above last month March high 1.2113, we will be having an engulfing bullish candlestick which confirms more up move for May. On Daily TF, possibly an inverse head and shoulder forming if it rejects...
EURUSD broke on Monday area 1.1980-1.20 which nows turns to support. In addition, it broke its descending channel on daily TF which confirms its uptrend continuation.