Euro / U.S. DollarShort
Education and Analysis
Updated
High possibility of downward move.
Reasons:
1. Break and retest of the bullish channel boundary.
2. Bouncing off the supply zone.
3. Formation of inverted hammer (within the ellipse) after the bounce off the supply zone.
4. Formation of the flag after the break of the channel and bouncing off the flag's upper boundary with inverted hammer.
5. Formation of head and shoulders pattern in both 4H and D1 timeframes
Reasons:
1. Break and retest of the bullish channel boundary.
2. Bouncing off the supply zone.
3. Formation of inverted hammer (within the ellipse) after the bounce off the supply zone.
4. Formation of the flag after the break of the channel and bouncing off the flag's upper boundary with inverted hammer.
5. Formation of head and shoulders pattern in both 4H and D1 timeframes
Note
4. Formation of head and shoulders patter in both 4H and D1 timeframesc
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