After analyzing the market over the past week, EURUSD is on an overall downtrend, but has been on an uptrend for the past week. I am looking at it for a short sale. There is a break of structure on the four hr. The market has a hard time getting past 106.853. It hit the area three times in the past two days, and has not gotten past that area. I feel it will hit the area again, prior to turning around to continue downtrend. Price is currently crossing up over EMA, with momentum and Stochastic facing up.
Trade active
This is a 1:2 Risk to reward ratioTrade active
Idea is still in motion, almost hit SL, but turned around at repeated support zone. Trade Idea pendingNote
Original analysis should have said "Short buy" not "short sell," as indicated on the chart TP and SL areas.
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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.