Intraday EURUSD bearish move
Positive confluence:
- Bearish move lower after quadruple top formed
- Retrace to combined point of 50EMA and Daily Pivot
- High test candle of retest of upsloping trend line - support turned resistance
- Bearish MACD at quad top suggesting short term bearish price action
Stop loss above yesterdays R1 (widened due to margin) 1.0777
Target daily S2 1.0595
R:R 1:1.4
Positive confluence:
- Bearish move lower after quadruple top formed
- Retrace to combined point of 50EMA and Daily Pivot
- High test candle of retest of upsloping trend line - support turned resistance
- Bearish MACD at quad top suggesting short term bearish price action
Stop loss above yesterdays R1 (widened due to margin) 1.0777
Target daily S2 1.0595
R:R 1:1.4