EURUSD BEARISH

Good afternoon traders,

Wish everyone a great start of this week.

Today we come back to the EURUSD chart, we see that our previous buy idea on EURUSD posted in tradingview was successful.

We weren't expecting strong high liquidity to be taken so soon within a week but it happened. So now we see EURUSD as bearish as it took strong high liquidity and also activated some buy stops above this strong high, leaving them now in drawdown as price drops.

We also noticed increase in volume as price gained momentum in declining. This suggests us that institutions sell orders may have been placed there.

Another point to notice is that in HTF i.e. H4 and Daily, price just tapped premium price levels on Fibonacci levels 0.50% (right above strong highs) and then price started to decline.

So we have 3 strong reasons to believe that we may see bearish momentum in EURUSD soon

We will keep you all updated as price moves