Euro / U.S. DollarShort
EURUSD waiting for a breakout (possible trend reversal)
Additional info:
Long, bearish Engulfing Candle that's longer than the previous bullish Engulfing Candle is a very strong sell signal
In fact the bearish Engulfing Candle is the longest candle in the last couple hours (also a strong sell signal)
Finally - the bearish Engulfing Candle has crossed through MA 10, 20 and 50 and closed below those MAs (another strong sell signal)
Just to be safe - it's still better to wait for the price to pass through the trend line (blue line)
TP 1 at 61,8% Fibo
TP 2 at 88,6% Fibo - possible Bat Pattern
Long, bearish Engulfing Candle that's longer than the previous bullish Engulfing Candle is a very strong sell signal
In fact the bearish Engulfing Candle is the longest candle in the last couple hours (also a strong sell signal)
Finally - the bearish Engulfing Candle has crossed through MA 10, 20 and 50 and closed below those MAs (another strong sell signal)
Just to be safe - it's still better to wait for the price to pass through the trend line (blue line)
TP 1 at 61,8% Fibo
TP 2 at 88,6% Fibo - possible Bat Pattern
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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.
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.