TREND CONTINUATION TRADE FOR UPCOMING WEEK - EURUSD - SHORT
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DAILY CHART
- price making lower lows and lower highs
- price got rejected from level 1.13996
- price not broken higher than the previous high which was 1.15000 (if broken price could have gone up)
4 HOUR CHART
- price also in a downtrend (confluence with daily chart)
- possible pullback into the green area between 50% fib level
- or a pullback towards 1.13996 level with 38.2% fib level supporting
- 1.13996 level been tested as S/R in the past
1 HOUR CHART
- price in a downtrend (3 timeframe confluence)
- possible entry on the 1 hour chart or lower timeframe
TARGETS
- TP1 1.13017
- TP2 1.12171
DAILY CHART
- price making lower lows and lower highs
- price got rejected from level 1.13996
- price not broken higher than the previous high which was 1.15000 (if broken price could have gone up)
4 HOUR CHART
- price also in a downtrend (confluence with daily chart)
- possible pullback into the green area between 50% fib level
- or a pullback towards 1.13996 level with 38.2% fib level supporting
- 1.13996 level been tested as S/R in the past
1 HOUR CHART
- price in a downtrend (3 timeframe confluence)
- possible entry on the 1 hour chart or lower timeframe
TARGETS
- TP1 1.13017
- TP2 1.12171