EURUSD BREAK DOWN
DAILY:
- MARKET STRUCTURE IS BEARISH, CAN SEE 2 LHs AND A LL
- PRICE IS CURRENTLY AT A 50% RETRACE FROM PREVIOUS LH TO LL
- EMA AND MA CURRENTLY BEARISH
4H:
- CURRENTLY PRICE HAS MOVED BELOW 4H SUPPORT, WILL CONTINUE TO MONITOR AT THIS TIME,
- LOOKING FOR AN ENTRY AT THE RETEST OF THE SUPPORT AREA .
4H CHART BREAK DOWN
- YOU CAN SEE 4H IS CURRENTLY IN AN UPTREND, BULLISH (1 ST CONFIRMATION ON LONG POSITION)
- PREVIOUSLY BROKEN RESISTANCE IS NOW TURNING INTO SUPPORT (2ND CONFIRMATION)
- FIB FROM PREVIOUS HL ON 4H CHART TO CURRENT HH IS AT A 32.8 RETRACEMENT. ( 3RD )
- TP IS AT -27% OF FIB RETRACEMENT
USDCAD
- CURRENTLY ON A DOWNTREND.(1ST CONFIRMATION FOR SHORT)
- 61.8 RETRACE FROM PREVIOUS LH POINT ON 4H (2ND)
- HAS BROKEN A PREVIOUS SUPPORT NOW WAITING FOR RESISTANCE TO BE CREATED FOR ENTRY (3RD)
** IF YOU GO TO DAILY, YOU WILL SEE IT IS ALSO CURRENTLY ON A DOWNTREND. (4TH)
