EU is currently in a downtrend on the 4H chart. The two black lines are significant daily support and resistance zones marked at 1.09632 and 1.08232. EU looks to have tested the major support and resistance level at 1.09632 and broke the major support and resistance level at 1.08232. At this point, I believe EU with retest the broken support at 1.08232 in confluence with 4H support turned resistance marked with a box shape at the 1.08300. TP is 1.06600. Please do your own due diligence before taking any trades. Good luck!
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Commentaire:
0.5 Fibonacci Retracement on 4H chart could mean further bearish momentum. The overall market trend looks bearish on the 4H chart.