short EURUSD - short term
less momentum at a level that has been tested multiple times, and price is over extended on the 4 hour.
reasons:
4h - hammer at significant level
1h - bearish engulfing
15m - lower low/break and close below consolidation zone
I expect the price to retrace before testing again and breaking the level it is currently at. I expect this because the weakening of the dollar over the past few weeks (Look to the DXY) and the NFP and other news that came out that was lower then expected. if price turns around and breaks the level I will enter a long position when price retests the level from above
reasons:
4h - hammer at significant level
1h - bearish engulfing
15m - lower low/break and close below consolidation zone
I expect the price to retrace before testing again and breaking the level it is currently at. I expect this because the weakening of the dollar over the past few weeks (Look to the DXY) and the NFP and other news that came out that was lower then expected. if price turns around and breaks the level I will enter a long position when price retests the level from above
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