Price made a good push to the Upside surpassing the Highs earlier this month but then getting caught up by the Highs of April
Currently Price is bouncing back and forth between the Falling Resistance and Rising Support.
Potential False Break zones for both Resistance and Support are marked by the High and Low Points starting the pattern!
Pennants are patterns where the fight between Bears and Bulls is equal and eventually one will win out the other, this will be followed by a STRONG, CONVINCING Break of Pattern and Close to Validate the movement.
Fundamentally this week for both EUR and USD will be Flash Manufacturing & Services PMI being released Thursday!
As Indicators go: -Above 200 EMA -DSR Assist -Above 50 RSI -Super Nova Layout +3
Trade active
Sell Entry @ 1.0845 SL @ 1.0855
Comment
Price gave a STRONG BEARISH BREAK and came back to Retest the Break of Pattern!
We are seeing price react nicely!! Deep Fall Incoming!!
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