EURUSD, Possibly more downside momentum coming next week
Updated
Monthly:
Price is below a big descending trendline and it is forming a H&S pattern.
Weekly:
Price is making LLs and it is rejecting the 61.8% of the weekly fib.
Daily:
Price already retested the institutional candle (white box) so it could continue to the downside at least to the beginning of the correction.
4H:
Price formed a bearish W and it rejected the 61.8% of the 4h fib.
Price is below a big descending trendline and it is forming a H&S pattern.
Weekly:
Price is making LLs and it is rejecting the 61.8% of the weekly fib.
Daily:
Price already retested the institutional candle (white box) so it could continue to the downside at least to the beginning of the correction.
4H:
Price formed a bearish W and it rejected the 61.8% of the 4h fib.
Trade active
Monthly: Weekly:
Daily:
4H:
Order cancelled
Price was too impulsive to the upside due to the DXY weakness.There was no confirmation to go short on this one.
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