- EURUSD continues to correct on the HTFs in a larger descending channel pattern, indicating medium to longer term bullish momentum in the pair albeit part of a larger continuation/corrective pattern to the downside.
- On the LTFs the pair remained bearish last week correctively moving down within the ascending wedge structure, with momentum slowing and now forming a descending channel within the structure.
- Our bias remains bullish moving into the next week if we see a clear rejection and impulse to the upside out of the existing LTF structure.
- Should price correctively hover on the base of this structure and we see a clear daily impulsive close to the downside breaking structure we will flip our bias bearish.
- On the LTFs the pair remained bearish last week correctively moving down within the ascending wedge structure, with momentum slowing and now forming a descending channel within the structure.
- Our bias remains bullish moving into the next week if we see a clear rejection and impulse to the upside out of the existing LTF structure.
- Should price correctively hover on the base of this structure and we see a clear daily impulsive close to the downside breaking structure we will flip our bias bearish.