EURUSD Break down analysis
Weekly- Rising wedge on an uptrend- A rising wedge is generally a bearish signal as it indicates a possible reversal during an uptrend. Rising wedge patterns indicate the likelihood of falling prices after a breakout through the lower trend line.
Fibonacci retracement shows rejection at golden levels.
The structure was broken on the weekly forming a new structure.
Daily= We have a change in trend as the price retested an area of resistance that was support.
price also changes structure on Daily.
4hr confirms a down trend on Daily.
1hr for entries, double top, shooting star, engulfing candle.
Fibonacci retracement shows rejection at golden levels.
The structure was broken on the weekly forming a new structure.
Daily= We have a change in trend as the price retested an area of resistance that was support.
price also changes structure on Daily.
4hr confirms a down trend on Daily.
1hr for entries, double top, shooting star, engulfing candle.
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