EURUSD - Shift in Momentum!

6 cze 2021

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Exactly the opposite of the DXY. EURUSD rejected the blue resistance area 1.23 - 1.25 and we can clearly see that the sellers are finally gaining strength.

EURUSD was overall bullish making higher highs and higher lows (in orange), found rejection around the blue resistance, and then the sellers broke below the last low which significate a potential shift in momentum from bullish to bearish. (as shown by the purple projection - semi-circle)

So the sellers took control, and the bearish trend started after EURUSD made a lower low and a lower high (in green).

As per my trading style/plan, Since EURUSD is overall bearish, we are expecting another lower high and lower low. So we will be looking for sell setups on lower timeframes on the retest now to catch the next impulse.

The bears are in control unless of course, the bulls manage to break above the previous high.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich