EURUSD has seen a big fall after CPI news which contributed to its general bearish sentiment. However, we may see a retracement, as some traders may anticipate mean reversion. Keep in mind as bigger timeframe is bearish, It is better to watch for a change back to bearish trend once it hits probable 0.38-0.61 fib retracement zone in hourly timeframe. Price may go sideways for some time in hourly interval, but a break down is better point to enter short.
Note
Trade is typically following the curve. Still looking for that retracement completion.Note
Price retraced from almost 0.28, without going towards expected zoneTrade closed: target reached
Price is generally bearish. After bullish retracement. Prepare for a potential major downfall.
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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.