Hello everyone
As we see New York markets struggle in the past couple of days,many down fall of prices in the different markets are noticeable,however in EURUSD we can't see that much change.
Now the price is in a horizontal trading range with long shadowed bars ,after a trend line break, late in a bear market;I don't know about you but this screams final bear flag to me.In situations of such,I expect to see a reasonable down trend in lower time frames after a retest of a moving average ( 20 maybe) and a lower low major trend reversal which can create good reasonable buy setup for swing trades.
For now. the price might stay in trading range for the rest of this week ( good for scalpers) so our support level of 1.05$ will stay unbroken until next week and the price will stay in this channel.
As we see New York markets struggle in the past couple of days,many down fall of prices in the different markets are noticeable,however in EURUSD we can't see that much change.
Now the price is in a horizontal trading range with long shadowed bars ,after a trend line break, late in a bear market;I don't know about you but this screams final bear flag to me.In situations of such,I expect to see a reasonable down trend in lower time frames after a retest of a moving average ( 20 maybe) and a lower low major trend reversal which can create good reasonable buy setup for swing trades.
For now. the price might stay in trading range for the rest of this week ( good for scalpers) so our support level of 1.05$ will stay unbroken until next week and the price will stay in this channel.
