EURUSD has paused at a significant level, with several factors pointing to a potential down move including:
- 2 month trend line resistance test
- double top price pattern
- supply zone test
- price outside of the volume profile value area, with potential for a mean reversion to the value area
- a look at the dollar index shows price at a significant support level, a move up in the dollar would add to the EURUSD bearish bias
This is an important level for EURUSD, if it breaks out to the upside it could be a significant move so be mindful of risk.
- 2 month trend line resistance test
- double top price pattern
- supply zone test
- price outside of the volume profile value area, with potential for a mean reversion to the value area
- a look at the dollar index shows price at a significant support level, a move up in the dollar would add to the EURUSD bearish bias
This is an important level for EURUSD, if it breaks out to the upside it could be a significant move so be mindful of risk.