#EURUSD 8H. The awaited correction
Updated
I don't like last 4 bars, the volume and result show us the weakness. Shadows or wicks tell us about the presence of supply.
Probably, we are going to test the resistance level first. By looking at the demand volume, I have some doubts that we can overcome the level. That's why, most likely, we might have a correction phase.
Probably, we are going to test the resistance level first. By looking at the demand volume, I have some doubts that we can overcome the level. That's why, most likely, we might have a correction phase.
Note
Quick update. The last bar at 9 am (05/31 09:00) was unable to overcome the previous one, a bad sign for bulls. I think the bulls will make another attempt to go higher and if they fail, we can expect a deeper correction.
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