Euro / U.S. DollarShort
POTENTIAL BEARISH CONTINUATION TRADE ON EURUSD
Hi traders,
The EURUSD seems to be in wave (b) of Y of a potential double zigzag pattern.
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Price is currently retesting a key resistance that lined up with 61.8 FIb ratio, moving averages, and ascending trendline.
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Considering that prices have made a double top pattern and bearish rejection candles at the confluence level, the odds strongly favored a sell-off to the channel support @ 1.11037 area.
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We will wait for the breakout of the double top neckline to confirm the sell setup.
.
Best of luck on the chart.
Veejahbee.
The EURUSD seems to be in wave (b) of Y of a potential double zigzag pattern.
.
Price is currently retesting a key resistance that lined up with 61.8 FIb ratio, moving averages, and ascending trendline.
.
Considering that prices have made a double top pattern and bearish rejection candles at the confluence level, the odds strongly favored a sell-off to the channel support @ 1.11037 area.
.
We will wait for the breakout of the double top neckline to confirm the sell setup.
.
Best of luck on the chart.
Veejahbee.
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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.
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.