Evening Guys,
This is a EUR/USD breakdown.
Technically EUR/USD is bearish and has been since last year. It's only going to go further until ECB raises interest rates to tackle the surging inflation the economy is facing.
EURO/USD has made some beautiful structure on the H4 & H1 TF, you can clearly see a perfect head & shoulder pattern combined with bearish market structure and a perfectly aligned break and retest strategy.
It's unfortunate this formation has occurred at the end of the NY session because if this was to occur around 11:00-14:00 GMT we would see a huge sell off on this pair.
Personally I'm going to look to short this until market structure tells me otherwise.
Maybe price can hover around this zone before dropping even more later tomorrow.
This is a EUR/USD breakdown.
Technically EUR/USD is bearish and has been since last year. It's only going to go further until ECB raises interest rates to tackle the surging inflation the economy is facing.
EURO/USD has made some beautiful structure on the H4 & H1 TF, you can clearly see a perfect head & shoulder pattern combined with bearish market structure and a perfectly aligned break and retest strategy.
It's unfortunate this formation has occurred at the end of the NY session because if this was to occur around 11:00-14:00 GMT we would see a huge sell off on this pair.
Personally I'm going to look to short this until market structure tells me otherwise.
Maybe price can hover around this zone before dropping even more later tomorrow.