EUR/USD Short-Term Analysis: 4H Market Monitoring & FxSignalsAs a follow-up to the previous analysis, we're monitoring price action on the 4H chart for catching the best time for an entry at the exhaustion of the long side and inflection point to the short side at the high-probability current daily 0.786 level of resistance on the monthly 0.5 supply & 0.618 demand. As of right now, we're seeing confirmation of resistance at the 0.786 level, with candles holding below it with clear loss of momentum on the previous impulse in the first 2/5 of the monitored period, as we expected to see.
We'll be monitoring price action on this chart for a confirmation or invalidation & higher-level short entry going up the daily fibonacci, if market still is hiding some gas and goes on a run to the upside before taking the price to the downside. In that case, we'll be expecting an even higher short, with an even better risk to reward ratio and even higher probabilities for a nice short position on a short-term swing trade.
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An amazing week for all of you and until the next post! :)
