EURUSD –
Seasonally Bearish at the start of May.
Price now looks to have created a weekly Lower High – this will be confirmed by next week’s trading if we do go short.
On our lower timeframes we are starting to see a confirmed downtrend with 2 cycles giving us a lower low and lower High price formation. Our lower time frame gives us an early indication of what price wants to do. Both 4 hour and 1 Hour is doing this.
Price moving below 1.2000 is my Sell zone and as price cycles below this level I’ll be adding more short positions. 1.2000 Being a key level of Interaction as it has been used as both support and resistance in the past.
Seasonally Bearish at the start of May.
Price now looks to have created a weekly Lower High – this will be confirmed by next week’s trading if we do go short.
On our lower timeframes we are starting to see a confirmed downtrend with 2 cycles giving us a lower low and lower High price formation. Our lower time frame gives us an early indication of what price wants to do. Both 4 hour and 1 Hour is doing this.
Price moving below 1.2000 is my Sell zone and as price cycles below this level I’ll be adding more short positions. 1.2000 Being a key level of Interaction as it has been used as both support and resistance in the past.