EURUSD - Short trade

24 ส.ค. 2023

EURUSD

Based on swing trade idea, using Fibs on daily TF, I see an opportunity to short this pair using fibs level and price action, swing high and swing low on higher time frames.

Also EMA 200-100-50-20 indicate a strong downtrend
Current short move started from around 1.126 where EUR/USD finds the resistance level

Last 3 highs and lows create an rising channel but overall the pair is bearish and if we move to Monthly TF can observe better the area were we are, testing the previous support that becomes resistance for current move.