Good Day traders !! On this pair we are currently looking at a monthly W pattern that needs to be completed by testing the neckline which is a strong area of support. Going down to the weekly timeframe we have just created a strong level of resistance and also we have a wick that needs to be filled which aligns perfectly with our idea of a Bearish Euro on the short term. On the daily timeframe we are sitting at a strong level of resistance which imply having an impulse to the downside in order to complete an impulse correction impulse pattern. On the 4H timeframe we want to see a market shift from a bullish to a bearish market in order to execute our entry and be looking for a nice 1/4 RR.
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