EURUSD 12/22/19 4hour Analysis
EU Short Idea
MAJOR bearish resistance is right above current price action. The overall trend is very bearish on higher time-frames and we may be seeing the next leg down form very soon
We saw rejection and lower high formations after the daily resistance zone was hit. We’re now looking for a retracement to either the 38.2% or 61.8% fib level on the 4hour before we start looking for short opportunities.
Ideally a 61.8% fib level with strong bearish setups would be good reason to enter
We’re looking to target toward our 4hour support around 1.1000
MAJOR bearish resistance is right above current price action. The overall trend is very bearish on higher time-frames and we may be seeing the next leg down form very soon
We saw rejection and lower high formations after the daily resistance zone was hit. We’re now looking for a retracement to either the 38.2% or 61.8% fib level on the 4hour before we start looking for short opportunities.
Ideally a 61.8% fib level with strong bearish setups would be good reason to enter
We’re looking to target toward our 4hour support around 1.1000
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.