EURUSD
- Monthly: After breaking through 1.1600 monthly, price created a new low at 1.1300 rejecting off that level for a 3rd month & closing as a long legged doji. Price is also currently resting on monthly order block (OB). Moving averages have crossed over bearish.
- Weekly: Last week price just tested 1.1300 weekly for a 4th time and closed as a bearish spinning top. I do expect a small push down however another rejection is expected. Price missed weekly order block (OB) by a pip or so. Moving averages are still bearish and have been respected for weeks with multiple rejections.
- Daily: Friday’s candle broke through 1.1363 & broke out of daily order block (OB) with a strong bearish engulfing candle. I expect price to have one more slight push down to at least 1.1300 + retest of ascending trendline. Moving averages bearish.
- 4hr: When 1.1363 was broken it formed a new low and is on its way back up to retest before selling. Target for this pair will be 1.1300 weekly support which is also in confluence with 4hr breaker (BR) + 3rd test of ascending trendline.
GOODLUCK!
Trade active
Trade closed: target reached
closed at the Gap up in the markt
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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.