Wait for this on EUR/USD before going short. By ThinkingAntsOk
4H CHART EXPLANATION:
As we can see, this pair is on a clear downtrend on the 4H timeframe. However, right now it is facing an important Support Zone, which has to be broken before considering short positions. We think that price may bounce or correct a little on this area, before starting a new bearish impulse. Once the Support Zone is broken, we will look for a lower timeframe setup to get involved.
DAILY CHART:
As we can see, this pair is on a clear downtrend on the 4H timeframe. However, right now it is facing an important Support Zone, which has to be broken before considering short positions. We think that price may bounce or correct a little on this area, before starting a new bearish impulse. Once the Support Zone is broken, we will look for a lower timeframe setup to get involved.
DAILY CHART: