🔸Hello traders, let's review the daily chart for EURUSD today. Recently we had
noteworthy compression inside rising wedge in strong prior downtrend conditions.
Normally this results in a breakdown and dump, we had a fake breakout and print
of new higher high at 1230/1240 before reversal and subsequent breakdown of
the rising wedge structure.
🔸EURUSD ongoing correction/downtrend set to resume after distribution pattern
completes later, expecting more losses short-term and price will likely enter new
redistribution after we hit close to 0300, expecting range-locked price action
before downtrend resumes later.
🔸Recommended strategy for EURUSD traders: I recommend to focus on shorting
any rips/rallies in EURUSD, as bears will target 1.0000/1.0100 later this year.
Limited upside potential after we got a rising wedge breakdown, which confirms
trend change, therefore no valid setup for the bulls in this market. good luck!
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RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
noteworthy compression inside rising wedge in strong prior downtrend conditions.
Normally this results in a breakdown and dump, we had a fake breakout and print
of new higher high at 1230/1240 before reversal and subsequent breakdown of
the rising wedge structure.
🔸EURUSD ongoing correction/downtrend set to resume after distribution pattern
completes later, expecting more losses short-term and price will likely enter new
redistribution after we hit close to 0300, expecting range-locked price action
before downtrend resumes later.
🔸Recommended strategy for EURUSD traders: I recommend to focus on shorting
any rips/rallies in EURUSD, as bears will target 1.0000/1.0100 later this year.
Limited upside potential after we got a rising wedge breakdown, which confirms
trend change, therefore no valid setup for the bulls in this market. good luck!
🎁Please hit the like button and
🎁Leave a comment to support our team!
RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
Note
limited upside until we hit 0300Note
eurgbp h4 best level to buy/hold TP +175 pips
Note
range locked but expecting fresh losses next weekNote
gold h4 5 waves sequence short from resistance
Note
usdcad daily short rips/rallies tp +250 pips
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Related publications
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taplink.cc/black001
💎Syndicate Black
⚡️Gold/Forex auto-trading bot
📕MyFXBOOK verified 500%+ gains
💎GOLD EA target 100%+ gains/week
🚀supercharge your trading
💎75% win rate free gold signals
t.me/syndicategold001
💎Syndicate Black
⚡️Gold/Forex auto-trading bot
📕MyFXBOOK verified 500%+ gains
💎GOLD EA target 100%+ gains/week
🚀supercharge your trading
💎75% win rate free gold signals
t.me/syndicategold001
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.