EURUSD weekly outlook: Bearish bias for June weeks 3-4
Weekly Outlook (W)
Bear bias until price action establishes an uptrend above 1.1092
6/15/23
Still making higher highs and lower highs
Last week of May just made the last higher low @ Weekly fib 78.6 level
Expectation:
IF
Continues uptrend: reach last HH level or 1.1100 and eventually 1.1250 (27 ext)
If not:
Price reactions from levels below:
1) 0.0865
H&S Weekly line and does a downtrend from there
2) Weekly IMB and OB with BOS down.
INVALIDATION POINT: 1.1092
Bear bias until price action establishes an uptrend above 1.1092
6/15/23
Still making higher highs and lower highs
Last week of May just made the last higher low @ Weekly fib 78.6 level
Expectation:
IF
Continues uptrend: reach last HH level or 1.1100 and eventually 1.1250 (27 ext)
If not:
Price reactions from levels below:
1) 0.0865
H&S Weekly line and does a downtrend from there
2) Weekly IMB and OB with BOS down.
INVALIDATION POINT: 1.1092
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