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T3-Consultancy

EURUSD H4: Bearish outlook seen, further downside below 1.0620

Short
Euro / U.S. Dollar (FOREXCOM:EURUSD)  
T3-Consultancy  
FOREXCOM:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns DJ FXCM Index EURUSD eurusdshort eurusdbearish Forex forexsignals forextrading
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trendanalysis harmonicpatterns chartpattern usdollar eurusd eurusdshort eurusdbearish forex forexsignals forextrading
On the H4 timeframe, prices are showing bearish order flow with lower lows and lower highs formed. A pullback to the resistance zone at 1.0620 could present an opportunity to play the drop to the next support zone at 1.0500, in line with the graphical low and 50% Fibonacci extension. Prices are holding below the Ichimoku cloud and 50 EMA, while Stochastic RSI is in the overbought region above 80, supporting our bearish bias.
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