EURUSD: High probability sell signal.

Oct 2, 2023

EURUSD is having a Double Top rejection on the 4H MA50, always within the tight borders of the middle July Channel Down. The 1D technical outlook is bearish (RSI = 32.644, MACD = -0.008, ADX = 39.390) and that's all that matters right now as it sets the bearish pace inside the Channel. Out of a 5 similar rejection sample inside this Channel, four have delivered a new Low. The lowest % decline has been -1.21%. Based on that, we are short-term short, aiming at the S1 level (TP = 1.04875).

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