EURUSD Thesis
- Weekly: Market structure for EU is bearish. However double bottom at 1.1100 monthly with 2 hammer reversal candle signalling buy pressure.
- Daily: After huge break above descending trendline & 1.1195 daily, price reached 1.1250 psychological level. Price is now expected to retrace back down to 1.1195 for retest.
- 4hr: Multiple long wick rejections to the downside. Multiple reversal candles (Doji's & Shooting stars) signalling sell pressure. Could see price drop to 1.1195 soon.