EURUSD Monthly S/R Support| Price Action| Trend
Evening Traders,
Today's analysis,
EURUSD - trading towards a key resistance level where a bearish retest is possible,
Points to consider,
- Price Action Corrective
- POC S/R Resistance
- .618 Fibaoncci Resistance
- Bearish OB Resistance
- Low Volume
EURUSD's immediate price action is corrective, the bounce is on low volume and approaching a key trade location with resistance confluence, this allows for a bearish bias.
The resistance is the .618 Fibonacci, POC S/R and a Bearish OB, price action is likely to have a rejection of this level, a reclaim will be a strong bullish sign, invalidating the trade.
The objective is the lower Daily S/R support and the overall Monthly S/R
Price action is to be used upon discretion/ management, hope this analysis helps
remember,
"Amateurs think about how much money they can make. Professionals think about how much money they could lose."
–Jack Schwager.
Today's analysis,
EURUSD - trading towards a key resistance level where a bearish retest is possible,
Points to consider,
- Price Action Corrective
- POC S/R Resistance
- .618 Fibaoncci Resistance
- Bearish OB Resistance
- Low Volume
EURUSD's immediate price action is corrective, the bounce is on low volume and approaching a key trade location with resistance confluence, this allows for a bearish bias.
The resistance is the .618 Fibonacci, POC S/R and a Bearish OB, price action is likely to have a rejection of this level, a reclaim will be a strong bullish sign, invalidating the trade.
The objective is the lower Daily S/R support and the overall Monthly S/R
Price action is to be used upon discretion/ management, hope this analysis helps
remember,
"Amateurs think about how much money they can make. Professionals think about how much money they could lose."
–Jack Schwager.
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