EURUSD
The pair has run out of steam going long after a 200+ pips run last week which has broght it to the fist Quarter Point of
1.2250 price zone. It has retested the zone twice, and if you look to the left you can see a huge drop off candles which
indicate the area is a major supply zone as well.Currently, a bearing engulfing candle is under formation in one hour chart.
We have to wait for the completion of the candle and get a bearish confrimation candle before entering at 1.21860 and ride it
down towards 1.19250 which is the major support area.
This is not a trading advice.
The pair has run out of steam going long after a 200+ pips run last week which has broght it to the fist Quarter Point of
1.2250 price zone. It has retested the zone twice, and if you look to the left you can see a huge drop off candles which
indicate the area is a major supply zone as well.Currently, a bearing engulfing candle is under formation in one hour chart.
We have to wait for the completion of the candle and get a bearish confrimation candle before entering at 1.21860 and ride it
down towards 1.19250 which is the major support area.
This is not a trading advice.