Overall trend of EURUSD is still bearish and has just recently tested the FIB golden zone (50%-61.8%)
However, I do expect price to retrace to form a minor structural lower high before going down.
I would be entering for a sell if 3 or more of these confluences are met:
My previous analysis on EURUSD:
https://www.tradingview.com/chart/EURUSD/LCjDg9yF-EURUSD-October-Forecast/
However, I do expect price to retrace to form a minor structural lower high before going down.
I would be entering for a sell if 3 or more of these confluences are met:
- Break and retest of counter-trend line & previous minor high(Aggressive)
- Break and retest of Level 1.16000 (Conservative)
- Bearish Structure formed
- Bearish Candlestick Pattern
- Good Bullish Strength on the DXY
https://www.tradingview.com/chart/DXY/JU8uyHo3-USD-Strength-DXY-Forecast-Pt-2/
My previous analysis on EURUSD:
https://www.tradingview.com/chart/EURUSD/LCjDg9yF-EURUSD-October-Forecast/
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Related publications
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.