Looking at EurUsd, we could be seeing a sell opportunity present itself. There seem to be two significant resistance levels that price could possibly retrace back to before continuing the impulse movement towards the downside. I'll be waiting to see how price reacts to each level before considering the validity of either.
Adding to the bearish bias, on the daily timeframe we could notice that price is rejecting away from the long-term non-horizontal resistance level. This could be identifying that a potential downside movement could be in play. For now I will be more sell heavy, than buy heavy on this pair until any structural changes of the market occur.
Adding to the bearish bias, on the daily timeframe we could notice that price is rejecting away from the long-term non-horizontal resistance level. This could be identifying that a potential downside movement could be in play. For now I will be more sell heavy, than buy heavy on this pair until any structural changes of the market occur.