EURUSD - Bullish exhaustion near 2 month trend line + resistance
✅ Price Action: The bullish candle bodies have been decreasing for the last 3 days and yesterday we saw some rejection near a previous top from two weeks ago and about 40 pips away from a 3 month high trend line. ⭐️
✅Resistance: The price is currently at an established daily resistance.
✅Trend line: The price has shown a second rejection near a trend line that was rejected earlier this month.
I'm going short here because of the previous days closing candle and at 1.5x ATR my SL is above the trend line and tested resistance from August. I'm looking for the range to continue to around 1.163 and re-evaluate from there.
✅Resistance: The price is currently at an established daily resistance.
✅Trend line: The price has shown a second rejection near a trend line that was rejected earlier this month.
I'm going short here because of the previous days closing candle and at 1.5x ATR my SL is above the trend line and tested resistance from August. I'm looking for the range to continue to around 1.163 and re-evaluate from there.
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