Even a bad news did not manage to break the trend line, so I am going short
-Firstly as we can clearly see we are in a down trend channel formation
-We have had multiple bounces from the Top trend line which is now acting as Support
-we formed double top on the 4H chart
-We have also priced in lowers lowers
Remember History repeats itself
Here's my share of my own view for a first hours of a new trading week.
All details on the chart.
Waiting for comments and questions, dear colleagues!!!
The last AB drop could repeat as a CD leg towards last structure lows at 1.204-1.207.
We could see a turn around there because of multiple divergences on the RSI and other indicators.
But for now short is the better side on the market.
The Market did not show any pullback scenario for going back into the uptrend which got a break after Draghi speech before June.
Because of this less potential for a pullback I assume the broken uptrend which led into a downtrend will get a sequel this or next week. Therefore pay attention to the red horizontal resistance areas.
