EURUSD Shall we Buy or Shall we Sell [Long term scenaio]

Jun 1, 2020

Analysis :

• Price was in a descending channel,
  
• Price Breaks the descending channel top bound,
  
• Price is acutally on a Major resistance zone,
  
• Buyers are rejected twice on the major resistance zone [the second rejection was after a retest].
  

Two Scenarios are forseen

Buy :

• Wait For Buyers to push the market up [above our resistance zone],
  
• Wait For Buyers to retest our resistance zone which become support,
  
• Wait for a continuation candle pattern to form e.g. bullish engulfing , pinbar , Insidebar etc,
  
• Initiate BUY order,
  
• Targets next resistance zone [~1.12],
  

Sell :

• Wait For Buyers rejection confirmation,
  
• wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar , Insidebar etc,
  
• Initiate Sell order,
  
• Target ==> Next support Zone [~1.10].
  

/!\** Disclaimer**/!\
The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.

Traders! | if you like my analysis and it supports you in your trading decisions, please say it in a comment so we can manage the trade together.
Thanks.



A bearish engulfing pattern has emerged at the bearish bat pattern potential reversal zone.
***This idea is only for educational purpose. Not a financial advice***
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