EURUSD Setups 060721

Price broke down below level of support. Closing strongly beneath it, then the following daily candle retraces BUT didn't close above the level.

Potentially meaning price may be setting up to move to the downside. HOWEVER, price has also yet to break major HH HL structure. . .

Looking for more confirmations to enter EURUSD positions

SHORT

1. 0.5 & 0.618 retracement on 4h candle
2. Price has been making HH HL on 4h
3. 50EMA dynamic resistance within Fibonacci retracement as well
4. Daily price action rejecting level of support turned resistance
5. 20EMA dynamic resistance on multiple candles
6. EMAs bearish crossover
7. Price rejecting at a very strong level
8. double-top formation on weekly
9. Clean 100pip range for price to move towards (Daily)

Confirmation
N/a yet

Commentaire:

My bias has changed. I'm potentially looking for a buy, potentially tomorrow. I want to see some sort of rejection on today's daily candle.

Will post another update if I do enter and the new analysis for EURUSD.

Transaction en cours:

Entered Long position. SL @1.21573

Commentaire:

Target @ 1.22555