As we can see in EURUSD a double top has formed and the structure of it has been broken indicating that the pair would like to push down.
Also upon retracing it rejected at a key Fib level 61.8. This is also a key level for the Elliott wave theory for wave 2 indicating we are in the formation of wave 3 which should be an impulse down furthering this bearish sentiment.
I see this set up being invalid around the 1.07150 area.
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Also upon retracing it rejected at a key Fib level 61.8. This is also a key level for the Elliott wave theory for wave 2 indicating we are in the formation of wave 3 which should be an impulse down furthering this bearish sentiment.
I see this set up being invalid around the 1.07150 area.
If you would like to see updates on this idea and many more please follow and hit the like button for more!