eurusd strategic outlook bears will target 1.0000

3 oct. 2023

🔸Hello traders, let's review the daily chart for EURUSD today. Recently we had
noteworthy compression inside rising wedge in strong prior downtrend conditions.
Normally this results in a breakdown and dump, we had a fake breakout and print
of new higher high at 1230/1240 before reversal and subsequent breakdown of
the rising wedge structure.

🔸EURUSD ongoing correction/downtrend set to resume after distribution pattern
completes later, expecting more losses short-term and price will likely enter new
redistribution after we hit close to 0300, expecting range-locked price action
before downtrend resumes later.

🔸Recommended strategy for EURUSD traders: I recommend to focus on shorting
any rips/rallies in EURUSD, as bears will target 1.0000/1.0100 later this year.
Limited upside potential after we got a rising wedge breakdown, which confirms
trend change, therefore no valid setup for the bulls in this market. good luck!

🎁Please hit the like button and
🎁Leave a comment to support our team!

RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.

3 oct. 2023

Note

limited upside until we hit 0300

4 oct. 2023

Note

eurgbp h4 best level to buy/hold TP +175 pips

5 oct. 2023

Note

range locked but expecting fresh losses next week

9 oct. 2023

Note

gold h4 5 waves sequence short from resistance

10 oct. 2023

Note

usdcad daily short rips/rallies tp +250 pips