EURUSD has been in a downtrend and following a descending channel.
Price just reached the resistance line of the channel
It is also at a strong resistance level(has tried severally and hasn't managed to break it in H1 timeframe)
The bearish candles at this level(H1 timeframe) have long upper wicks indicating strong rejection
I predict the bears will take control and push price downwards
Share your views in the comments
Price just reached the resistance line of the channel
It is also at a strong resistance level(has tried severally and hasn't managed to break it in H1 timeframe)
The bearish candles at this level(H1 timeframe) have long upper wicks indicating strong rejection
I predict the bears will take control and push price downwards
Share your views in the comments
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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.