Using ICT Concpets, it’s led me to believe EU has a potential rally down, it took out a double top, an area of Liquidity where Smart Money can sell, its retested a breaker used to mitigate orders, so now overall bias is to short EU to the double bottom, another HTF level of Liquidity, maybe EU will reach for the range Low
I have a bearish bias but price might touch 2008/9 highs i don't know yet. Major uptrend and buying shows other wise. If 0.88400 level is broken which hasn't been done yet i would be careful, it did kiss that level yesterday and may be retested. I'll wait till next week but this is definitely on the watch list.
Bullish momentum should be coming to an end. wick of doji touching 20 ema, really overbought by Monday or Tuesday price should be lower sl placed near weekly high which is unlikely to be touched. 0.766 level mostly has bearish tendencies.
Reversal may happen but because marlkets are bullish the low of the week may be touched on the start of the week so maybe down for now and then start buying later. Alot of recent accumulation shown at101 level because of smart money so current buyers might get trapped.