EURUSD 4Hour Analysis June 14th, 2020
EURUSD short Idea
Last week we saw a reversal on this 4hour bullish trend just before our major monthly resistance zone around 1.15000
If this transition continues we could see a fairly large drop to major support levels
We want to see a lower high form right where price action is currently followed by strong bearish setups that would then present a short opportunity.
We are looking to target lower toward our 1.11750 structure level followed by a lower target around our weekly support, 78.6% fib level, 200ema, and key structure around 1.10000
Last week we saw a reversal on this 4hour bullish trend just before our major monthly resistance zone around 1.15000
If this transition continues we could see a fairly large drop to major support levels
We want to see a lower high form right where price action is currently followed by strong bearish setups that would then present a short opportunity.
We are looking to target lower toward our 1.11750 structure level followed by a lower target around our weekly support, 78.6% fib level, 200ema, and key structure around 1.10000
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