Hey traders, I have definite short bias on the Euro on the Weekly timeframe. However, the question remains, "will we see consolidation this week or bearish breakout?" The next couple of days should unfold the next chapter in this story. Stay tuned
On background the down_trend we have the rising correction channel which was broken/ so we have a good opportunity to take short position/ setup pending sell order on breakout the fractal_based line
I think the chart explains by itself very clearly so you will know what to do. Just see the pink channel we were trading and how it was broken. So you should expect correction flag and then bearish impulse. Probably if you go to a lower time frame as 4h or 1h could understand better what I mean but wanted to show the borad picture.
euro to fall sharply in trading this week after the statements of Draghi will extend stimulus program to drive up inflation. I see a chance the euro will rise in the area of 104.2, and formed a bullish bat pattern
