Short

EURUSD: Price Action & Scenario For Next Week

Ice breaks and EURUSD finally started a bearish movement this week.

on Friday the price managed to break below a strong demand area and successfully closed below daily/4H structure.
short term bias is now bearish and next week I will anticipate a bearish continuation to lower structure levels.

HOWEVER,
talking about a 1H t.f perspective, things are bit different:
the price has formed a perfect ABCD pattern formation and it will most likely retrace to 1.1275 resistance based on the projected CD leg,
and boundaries of a falling parallel channel .

then buyers will face a wide resistance cluster and selling rally will most likely continue.

next goal for sellers will be 1.117 support (based on horizontal structure and support of the channel)

good luck!

VasilyTrader

✅Join My Telegram Channel: t.me/VasilyTrading

❗️YouTube Channel youtube.com/c/VasilyTrader

💰Instagram: instagram.com/VasilyTrader/ 💰

✅Facebook: facebook.com/VasilyTrading/ ✅

Also on:

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.