EURUSD Looking for Sell Position

Hey Guys ,

here is my analysis on EURUSD in the daily timeframe
Price has formed a Double Top chart pattern that given us a bearish push to the downside ,
as you can see after price gave us a bearish impulse move, price was trading in a range market for quite a while ,
and now finally price has broken out of the range , and given it a small bearish impulse to the downside ,
after the breakout , now what we are waiting for here is a retest to the previous breakout ,
and also if we use a fibonacci retracement , we can expect price retest to the 61.80% lines up nicely to the range's support ,
then we can take our short position , StopLoss just above the 78.60% and Take Profit target is just at the major support .

in Weekly or Monthly Timeframe,
price is trading in the Symmetrical Triangle , price is on the the top rejection and bring the price to bearish move .

Let me know what you think about my analysis on EURUSD ,
Give it a like or comment if you like this idea !

评论:

Higher Timeframe Looking Bearish