Potential Bearish Drop of 600 pips
On the monthly view, EURUSD continues on a downward trend line. Weis wave volume confirms the bearish trend. The past four month rally is a retrace within this trendline. Priceline will hit massive resistance close to 1.25
Now is not the time to open a short. Await price action close to the resistance line and appearance of red candles at the 4H, 8H and 12H Tfs. Opening long can likewise be dangerous given a potential stop out should the peaks be reached.
Now is not the time to open a short. Await price action close to the resistance line and appearance of red candles at the 4H, 8H and 12H Tfs. Opening long can likewise be dangerous given a potential stop out should the peaks be reached.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.