EURUSD BUY

EURUSD

The currency pair EURUSD has been exhibiting a solid downtrend, adhering strictly to the trendline until the price started consolidating at the lows, indicating a possible shift in momentum. The recent break of this trendline suggests a potential bullish movement in the near future. However, at the .618 on the Fib, the price broke structure to the downside, creating a bear flag,. It remains to be seen whether the bullish momentum will be strong enough to push towards this level and breakthrough or if the bearish trend will continue after the retest of this level.

In order to confirm the continuation of the sell, there are two conditions that must be met. Firstly, price must brake below range. Secondly, there needs to be a strong rejection at 200 EMA, which means that the price must be pushed back down after attempting to rise above this level. Additionally, the close of the price needs to be below the range to validate the continuation of the sell.