A Downside Momentum Of selling Eurusd On Weekly chart
1. It shows that from June 2015 there are UNBREAKABLE TRENDLINE which this line descending year to year. this trendline makes a wedge formation. and force EurUsd to make a little downside.
2. EurUsd Traded in 38.2 - 0 fib since June 2015 till june 2016 , and TRADED LOWER in 23.6 fib Since june 2016 - till now.
3. Fibo 23.6 Already hold tight and resist many times as you see untill now and already TESTED UNBREAKBLE.
Conclusion
Open Position:
1. When weekly candle making A new Low and form a BEARISH CANDLE.
2. fibo 23.6 hold once again as a stiff resistance and safe place to put a SL
Safe position to open order is better in an lower timeframe for better accuracy
2. EurUsd Traded in 38.2 - 0 fib since June 2015 till june 2016 , and TRADED LOWER in 23.6 fib Since june 2016 - till now.
3. Fibo 23.6 Already hold tight and resist many times as you see untill now and already TESTED UNBREAKBLE.
Conclusion
Open Position:
1. When weekly candle making A new Low and form a BEARISH CANDLE.
2. fibo 23.6 hold once again as a stiff resistance and safe place to put a SL
Safe position to open order is better in an lower timeframe for better accuracy
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.