EURUSD Thesis
- Weekly: Market structure is bearish with lows taken out. Huge wick rejection off 1.1225 psychological zone signalling bears pushing market lower.
- Daily: Clean break below 1.1170 creating new lows and changing market structure to bearish. Next target likely to be 1.1050 support zone.
- 1hr: After breaking out of area of consolidation, price is now expected to retrace back into 1.1170 for a retest before possibly selling off to 1.1050.
Trade closed: target reached
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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.