Euro / U.S. DollarShort
EURUSD Sell Position Idea
> Reversal
Over all trend is bearish on the monthly and weekly
On the monthly, its a 61.8 fib level
Its also testing the previously formed 3 year
high which also turns out to be a supply zone (Resistance)
Waiting to observe price reaction in that zone to
consider placing a short position basing on the candlestick anatomy
and price rejection on the smaller time frames (1Hr,4hr and daily )
This also resonates with the DXY (Doller Index) as they are negatively correlated
EURUSD is the direct opposite of DXY.
Over all trend is bearish on the monthly and weekly
On the monthly, its a 61.8 fib level
Its also testing the previously formed 3 year
high which also turns out to be a supply zone (Resistance)
Waiting to observe price reaction in that zone to
consider placing a short position basing on the candlestick anatomy
and price rejection on the smaller time frames (1Hr,4hr and daily )
This also resonates with the DXY (Doller Index) as they are negatively correlated
EURUSD is the direct opposite of DXY.
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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.
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.