EURUSD;DESCENDING CHANNEL | BEARISH!
Updated
HELLO TRADERS
Before we talk about EURUSD lets first take a look on the dollar index DXY
DXY managed to change its trend on a HTF from bearish to bullish and we expect the trend to continue
the bullish DXY is an indication of bearish EURUSD
(DXY chart below)
Now back to EURUSD,
EURUSD has been bearish after breakout of an ascending channel, created a bearish descending channel
and we expect the bearish trend to continue
we will be looking for a sell setup on the retest of the confluence of the trend line & the resistance @ 1.0845
our targets will be at the support @ 1.075
BREAK ABOVE 1.086 WILL INVALIDATE THIS IDEA
GOOD LUCK
if you find this idea valuable support it with a like
Before we talk about EURUSD lets first take a look on the dollar index DXY
DXY managed to change its trend on a HTF from bearish to bullish and we expect the trend to continue
the bullish DXY is an indication of bearish EURUSD
(DXY chart below)
Now back to EURUSD,
EURUSD has been bearish after breakout of an ascending channel, created a bearish descending channel
and we expect the bearish trend to continue
we will be looking for a sell setup on the retest of the confluence of the trend line & the resistance @ 1.0845
our targets will be at the support @ 1.075
BREAK ABOVE 1.086 WILL INVALIDATE THIS IDEA
GOOD LUCK
if you find this idea valuable support it with a like
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