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Trader856

EURUSD POTENTIAL SELL OPPORTUNITY - MULTIPLE TIME FRAME ANALYSIS

Short
Euro / U.S. Dollar (FX:EURUSD)  
Trader856  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators forexanalysis eurusdshort eurusdprediction eurusdidea eurusdtrendanalysis eurusdforecast Fibonacci Retracement
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trendanalysis chartpattern indicator forexanalysis eurusdshort eurusdprediction eurusdidea eurusdtrendanalysis eurusdforecast fibonacciretracement
It seems EURUSD has been in a down trend on the 4 hour time frame and on the daily, and a bearish hammer candle has formed on the weekly chart. There also seems to be a nearly 50% retracement that has occurred within the channel, which is a good indication that it may continue to go in to the direction of the trend. Assuming it does fall, then it can be said it is likely it will reach the bottom of the channel and that seems to be a good R:R trade.

*NOT FINANCIAL ADVISE, MERELY AN OPINION*
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