Good day traders.
Here is the trade setup on that EURUSD Daily analysis from my previous post. Firstly, we have a broken ascending trendline. Secondly, we have a Head and Shoulders pattern, which is a trend reversal pattern. Lastly, we have a corrective structure in form of a bearish flag. I will sell if it breaks out of the flag, that is my confirmation. The first target will be at the 1.272 extension and the second target will be at the 1.618 extension.
Here is the trade setup on that EURUSD Daily analysis from my previous post. Firstly, we have a broken ascending trendline. Secondly, we have a Head and Shoulders pattern, which is a trend reversal pattern. Lastly, we have a corrective structure in form of a bearish flag. I will sell if it breaks out of the flag, that is my confirmation. The first target will be at the 1.272 extension and the second target will be at the 1.618 extension.