EURUSD H4 SHORT PRICE ACTION FORECAST

The major pair is currently showing some sellers pressure, as price action has been trading sideways, forming a clear channel.

In D1, today's candle shows market indecision, not only reaching resistance from the channel but also the resistance from the 200 MA.

Then moving to an intraday realm in H4, the bearish divergence from price structure and RSI give additional support and higher confirmation towards a bearishness bias into the major pair.

A sell-limited entry at 1.0987, as a key resistance level, gives enough room for a short order with an R:R | 1:2 and an S/L: 62 pips.

Trade active

Market kept its bullish bias, but order hasnt reached S/L level, I'm still bearish in EURUSD, as yesterday commnet from ECB dovish report and European region contraction.

Trade closed: stop reached

S/L reached

OGFXTRADER

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