Breakout traders must have felt the wrath of this pair in the past week. EURUSD has printed fakeouts both to the upside as well as the downside. It is important to note that 1.13499 is still being respected and even tested with the marked ellipses on the chart. As long as we stay below this level, we are very much in bearish territory with additional confirms on the break of 1.13273 to see price fall to 1.12600 which will temporarily hold as support before the continued decline to 1.11303 which ultimately serves as my longterm bearish target. A break and a retest of 1.13499 will invalidate my bearish bias and will shift to 1.14446 as my bullish targets.
Comment:
Wasn't pleased with how choppy the price was moving to the upside failing to make consistent Higher Highs