EURUSD BEARISH

Good afternoon traders,

As per our previous idea posted yesterday, we were observing EURUSD and expecting it to rise further up. However as stated in the idea description "We may not enter this one as london session has ended already."


We now see that EURUSD price is strongly bearish as it tapped 4H POI at premium pricing levels and also correlating with DXY Index.

Why bearish? Look at the bar below. Note how quickly price is dropping comparing to how long it is taking to rise back up. Currently Bearish > Bullish.

We now expect price to drop 1.04843 or further to 1.04351 potentially.

We are looking to enter sell potentially around 1.05750 area unless price gives earlier opportunity for sells

We will keep you all updated