The price has impulsively broke out of the ascending channel and current forming a corrective structure to confirm and continue bears bias, we expect the current correction/flag to be small and impulsive breakout there after.
Retest of 1.09443 level will surely provide great liquidity to the downside, we see on tow previous occasions when price reached that level liquidity was initiated. Price-wise Eurusd is perfectly positioned, coming from greate bear momentum and currently building steam(correction) to continue with the run to the south
EurUsd currently formed bear flag/accumulation structure that we can break out of anytime, if we break out and clear 1.09400 level, we're surely in for strong bear run
EurUsd currently formed bear flag/accumulation structure that we can break out of anytime, if we break out and clear 1.09400 level, we're surely in for strong bear run
We need to get a brake below 19970 and small lower time frame flag to confirm bears takeover
From where the current price action is we see clear change of sentiment and bias, bears are in control as it confirmed by the later bigger 3 touch bear flag, witch follows as medium that formed above. in the current bear flag we see bulls tried their level to push the price to the upside and break out of the flag, however the bears kept pushing the price back into...
Currently we're consolidating below 19,225.1, we have no business buying below that level, currently we're forming a bear flag to build momentum to break to the downside, however if we break above 19.225.1 we'll look for buying opportunities.
After strong bearish impulse, we see bear flag forming to confirm bearish continuation.
After failed bull continuation, in the shaded area, we notice the price broke to the downside indicating probabilities of retesting previous value area 72.590, let's be patient and see if we get corrective/bear flag to confirm bears bias or continuation.
After the 1st impulsive leg, it is common cause and nature of the market that it'll take a break and accumulate for the second impulsive phase, also considering the area the price is at, strong momentum by for form of 3 touch bull flag will be needed to break the previous value area that held quite well and strong.
EurUsd setting up beautifully for Long, the pair is trading at an interesting area of value, ordinarily we'd be looking for short positions in that area, how we're also experienced to know when there's a change of sentiment. The price action is forming bull flag instead of impulse to the downside or giving bear patterns.
The price is moving in a corrective manner to the double top are, we should expect a momentous drop
N.B it may push a bit down to test the trend line but it doesn't have to, just accommodate such in your stop loss allocation.