EURUSD

Monthly Time Frame:

Confluences

• Price Action (P.A) currently printing lower lows (L.L) and Lower Highs (L.H), therefore Price Action (P.A) is currently in a downtrend.
  
  3rd bounce of trend-line.
  
  Inside bar formation highlighted by the yellow rectangle .
  
  Bearish Shooting star candle.
  
  Price Action (P.A) currently printing a bearish marubozu candle.
  
  200 EMA currently acting as dynamic resistance.
  
  

Conclusion


Will Price Action (P.A) reach the weekly support of 1.15000 as the next downside target?

OR


Price Action (P.A) looking a head and shoulders pattern is currently forming?