Hi Once again, I am convinced that we might sell EURUSD for the second day of the week.
Looking at the analysis, the market has created a downtrending channel containing an impulse move to the downside, and a minor correction to the upside. In the corrective phase of these moves, you are expected to see a resistance where the market fails to break above those levels. That is exactly where you wait for the market to create impulse moves to the downside.
With that explained, the market has already completed the correction to the upside, we see that it failed to break above and expect another impulse to the downside. Hence I am selling this pair.
Good luck, trade wisely.
Looking at the analysis, the market has created a downtrending channel containing an impulse move to the downside, and a minor correction to the upside. In the corrective phase of these moves, you are expected to see a resistance where the market fails to break above those levels. That is exactly where you wait for the market to create impulse moves to the downside.
With that explained, the market has already completed the correction to the upside, we see that it failed to break above and expect another impulse to the downside. Hence I am selling this pair.
Good luck, trade wisely.