Bearish Momentum Building: Shorting EUR/USD ?
Hey Traders!
🔻Potential SELL setup for: EURUSD
👨💻Technical: Monthly overall direction is bearish. Weekly although above some moving averages, has space for a pullback towards the downside. Daily moving averages although crossed, we still need to break the up-trend. A break on 106.550 should trigger a bearish momentum further pushing the pair down.
🎯 For an ideal entry: By minimum we need to wait for the 4h break of support, before we can start looking for a re-test of broken support that becomes resistance and only then look for some form of candlestick price action to confirmed this trade short.
🔻Potential SELL setup for: EURUSD
👨💻Technical: Monthly overall direction is bearish. Weekly although above some moving averages, has space for a pullback towards the downside. Daily moving averages although crossed, we still need to break the up-trend. A break on 106.550 should trigger a bearish momentum further pushing the pair down.
🎯 For an ideal entry: By minimum we need to wait for the 4h break of support, before we can start looking for a re-test of broken support that becomes resistance and only then look for some form of candlestick price action to confirmed this trade short.