Short Opportunity: Riding the Dollar Bullish Momentum in EUR/USD

Hi Realistic Traders. Here's my price action analysis on EURUSD!

EURUSD has recently dipped below the EMA200 line, thereby confirming its bearish trend. The most probable scenario at this point is a continuation of this bearish trend. Upon closer examination of the chart, it becomes evident that EURUSD has formed a bearish pattern recognized as the Ascending Broadening Wedge Pattern, complete with a breakout. Breakouts in such instances typically foreshadow a continuation of the downward trajectory. Additionally, the momentum indicator is currently indicating a downward momentum, as it approaches the negative zone, signaling the potential for further downward movement toward the designated target area.

it is essential to note that the analysis will no longer hold validity once the target/resistance area is reached.

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Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on EURUSD ."

Dagangan aktif:

USDollar: Repeating Bullish Pattern, EURUSD may continue its bearish bias