Bear Channel is broken
EURUSD Bearish channel is broken. It will go to 1.19 region.
1. Bears will try to cover their short at 1.19, arguing it is Trading Range.
2. Bulls will wait to see the retest region of 1.16 for follow through.
3. If the follow through is strong and retrace back to 1.16 region. It will create a HL. This HL will give a confirmation to the bulls. Bulls will buy.
4. The bulls are looking this recent break as a two legs down correction and break above the Bearish Channel.
1. Bears will try to cover their short at 1.19, arguing it is Trading Range.
2. Bulls will wait to see the retest region of 1.16 for follow through.
3. If the follow through is strong and retrace back to 1.16 region. It will create a HL. This HL will give a confirmation to the bulls. Bulls will buy.
4. The bulls are looking this recent break as a two legs down correction and break above the Bearish Channel.
Penafian
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