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EURUSD - Double Top Bearish IdeaAs we can see in EURUSD a double top has formed and the structure of it has been broken indicating that the pair would like to push down. Also upon retracing it rejected at a key Fib level 61.8. This is also a key level for the Elliott wave theory for wave 2 indicating we are in the formation of wave 3 which should be an impulse down furthering this bearish sentiment. I see this set up being invalid around the 1.07150 area. If you would like to see updates on this idea and many more please follow and hit the like button for more!
Short
by WrightWayInvestments
1
AUDUSD - Rising Wedge Bearish PotentialAs we can see AUDUSD formed a rising wedge and broke the structure of it pointing the pair to the downside. To further this bearish sentiment AUDUSD also rejected a key FIB level @78.6 after breaking structure and retracing. Usually this is a great indication we may be in the 3rd wave of the Elliott Wave Theory which should be followed by a great impulse downward. I set this idea to be invalid if price continues upward around 0.68750 with setting take profit at 0.66100 and 0.64656 If you would like to see updates on this idea and many more please follow and hit the like button for more!
Short
by WrightWayInvestments
6