I have read that USD is going on a decline. Also the European banks have stated the market won't move until September 22nd because of the untimely death of Queen Elizabeth. I am personally staying away from EUDUSD pair. I am shorting USD all week
It appears eurusd is going to go through a continuation due to the bearish engulfing candles on the 4H chart! I'm seeing a sell about to happen after 3 hours.
I drew a trend line on EURUSD 4H chart. Shockingly the bearish candle broke the trend line and I jumped in for the sell. Currently the candles have retested the trendline and the trendline is acting like a resistance line. I'm waiting for a impulsive bearish move when the market opens again.
EURUSD is one of the most popular pairs to trade. According to my top down analysis, I am predicting a long term sell. I'm marking up the chart on the 4H and trying to access the entry by tomorrow London session. USD didn't do so well today. Overall the market shorted USD.
It looks like the bears are leaving. I'm still seeing a double top on the 4H time frame but there is a small pullback going on. I am still seeing a potential sell going on.
I observe a double top pattern on the 4H chart! The current candle has also broken my support line and retested. The dollar seems to be the weaker currency at the moment.
In my previous analysis, I observed a morning star on the support line. This support line is valid because on the same time frame, I am witnessing a bullish and bearish candle touching and closing on the same line. Currently, there is a bullish candle that is retesting the same line but it turned into a resistance line.
I am seeing a double bottom on the 4H chart. I'm waiting for the candle to retest the previous impulsive move and continue to form bullish patterns!