EURUSD waiting for a breakout (possible trend reversal)
Additional info:
Long, bearish Engulfing Candle that's longer than the previous bullish Engulfing Candle is a very strong sell signal
In fact the bearish Engulfing Candle is the longest candle in the last couple hours (also a strong sell signal)
Finally - the bearish Engulfing Candle has crossed through MA 10, 20 and 50 and closed below those MAs (another strong sell signal)
Just to be safe - it's still better to wait for the price to pass through the trend line (blue line)
TP 1 at 61,8% Fibo
TP 2 at 88,6% Fibo - possible Bat Pattern
Long, bearish Engulfing Candle that's longer than the previous bullish Engulfing Candle is a very strong sell signal
In fact the bearish Engulfing Candle is the longest candle in the last couple hours (also a strong sell signal)
Finally - the bearish Engulfing Candle has crossed through MA 10, 20 and 50 and closed below those MAs (another strong sell signal)
Just to be safe - it's still better to wait for the price to pass through the trend line (blue line)
TP 1 at 61,8% Fibo
TP 2 at 88,6% Fibo - possible Bat Pattern