EURUSD | Currently on a squeeze pattern where will it go
Hey traders,
EURUSD currency on a squeeze pattern breaking out a long-term down-trend on the 4 hourly timeframes with a bullish engulfing candle.
Daily and weekly are also following a bearish bias, if we have a look at the monthly timeframe we still see a "bullish bias".
The best bet would be for trade towards the downside to continue falling and pulling back to the monthly moving averages.
The only time you really want to buy is maybe if it crosses the daily moving averages.
So I believe it could be a nice short trade if candlesticks fall back below MA lines.
What do you think?
EURUSD currency on a squeeze pattern breaking out a long-term down-trend on the 4 hourly timeframes with a bullish engulfing candle.
Daily and weekly are also following a bearish bias, if we have a look at the monthly timeframe we still see a "bullish bias".
The best bet would be for trade towards the downside to continue falling and pulling back to the monthly moving averages.
The only time you really want to buy is maybe if it crosses the daily moving averages.
So I believe it could be a nice short trade if candlesticks fall back below MA lines.
What do you think?