Why to short EURUSD right now?
Technical Analysis for EURUSD :
1. EURUSD Higher Time Frame shows a downtrend in General (Yellow Trend-Line)
2. Previous support become resistance (red box)
3.Head and Shoulder Pattern Broke Down and Previous Neck-Line confirmed as a resistance.
USDCAD failed to break out from the downward trendline.
In this scenario, the green box is the potential entry zone for this short position, and the take profit is around 1.3102, 1.30670 and 1.30250 area accordingly, while the stop loss should be somewhere around the 1.31720 area.
All technical indicator is also pointing to the downside.
Entry at 1.3140
The Bear and Bull Whales are currently on a price war to determine the direction in which bitcoin is supposed to be going on the next up coming weeks.
The Bull Whales are trying to prevent the 4H 200EMA and 55EMA from doing a death cross, while the Bear Whales are trying to make the 200EMA and 55EMA death cross to happen.
If the Bull Whales are indeed winning...