Rashidyadgary

EURUSD potential short

Short
FX:EURUSD   Euro / U.S. Dollar
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Using the weekly timeframe , once can see that price had completed a double top formation at the weekly resistance and thus price was continuing the downwards movement. Price had closed below the 1.196 level which indicates as to a bearish outlook for the week ahead

Price broke through the minor zone of 1.196 and retested it, failing to break above this level for 4 days. Price also rejected the EMA via a shooting star formation on daily.
The 0.38 fib level also held.
The first area where i believe price is headed towards is around the -0.27 extension. If the weekly support is broken we can see price head to the 1.164 level

Comments

Keep an eye out for the 1.85 level aswell
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