Week 32: EURUSD - Slightly Bearish (KIV)
Price ended with bearishly on the daily TF, but we have support coming in at 1.1715 and a stronger support at 1.165 from the overlapping of 2 high volume candles (dark blue rectangle), which is why I am slightly bearish. I am only very bearish if price is able to break this support strongly.
Looking at the 4-hr TF, we can see that price closed way below the Intraday control, meaning to say if price is to go back to 1.1878, expect resistance to come in.
Also, on the weekly TF, candle is a nice bearish pin bar therefore I will wait and see if next weekly candle is a bearish engulfing.
Looking at the 4-hr TF, we can see that price closed way below the Intraday control, meaning to say if price is to go back to 1.1878, expect resistance to come in.
Also, on the weekly TF, candle is a nice bearish pin bar therefore I will wait and see if next weekly candle is a bearish engulfing.
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