EURUSD - P wave
The EURUSD is in an extended P wave. After forming a double top in August/September 2024 , price has moved 4 points lower.
The RSI suggests price is near a low , as it has printed within the OS zone.
However, price may well fall lower and test or break the supporting trendline.
Liquidity zones are at 1.0770 and 1.0660 , which are the nearest swing lows of the prior impulsive leg.
For next week, the bias is short to 1.0770.
The RSI suggests price is near a low , as it has printed within the OS zone.
However, price may well fall lower and test or break the supporting trendline.
Liquidity zones are at 1.0770 and 1.0660 , which are the nearest swing lows of the prior impulsive leg.
For next week, the bias is short to 1.0770.
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