Hello traders, our trade is going on as planned, however with the current outlook on the EURUSD, it seems a double top is forming on the H4 TF (more visible on the H1 and H2 TF). This could mean buyers should be cautious or lock in some pips on the long trade.
The 1.16400 is an important price to be monitored. If bulls are unable to push below this price, then we can hold on to our long position. However if bears should break below this price to the neckline found between 1.1626 and 1.1617 zone, then it is a confirmation that a reversal has commenced on H4 and price will shoot further down. for now, we still hold our long position, but lock in some profit and be on alert. Remember we are also expecting high impact news on Thursday and Friday. I believe the outcome of this news will greatly impact the next direction of the Fiber.
your contributions are welcome. You can also follow me on trading view, twitter, medium and Youtube to get more update on EURUSD and other pairs.
The 1.16400 is an important price to be monitored. If bulls are unable to push below this price, then we can hold on to our long position. However if bears should break below this price to the neckline found between 1.1626 and 1.1617 zone, then it is a confirmation that a reversal has commenced on H4 and price will shoot further down. for now, we still hold our long position, but lock in some profit and be on alert. Remember we are also expecting high impact news on Thursday and Friday. I believe the outcome of this news will greatly impact the next direction of the Fiber.
your contributions are welcome. You can also follow me on trading view, twitter, medium and Youtube to get more update on EURUSD and other pairs.