EU: downtrend continuation
This market is moving fast. A cluster consisting of a retracement, an extension and a projection has been spotted. The cluster zone held resistance with the sloping trendline as the primary force. After a decline when price reached the cluster, price formed a double top pattern. Now testing 50% of the double top range, I believe a sell opportunity is present. Looking to ride the trend with another dip in these prices.
Here is a bigger view, with an extended trendline and with another 61.8% fib ret as confluence.
Good luck to all trading EURUSD!
Here is a bigger view, with an extended trendline and with another 61.8% fib ret as confluence.
Good luck to all trading EURUSD!
Note
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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.