Hi Traders!
We are still in a bear trend on EURUSD. You can see this in the price action with lower highs, lower lows and support pivot breaks.
The first support pivot level of 1.09084 was broken after a triangle break, the second support pivot level of 1.08310 was broken with momentum after a retest of the first pivot level of 1.09084.
We are now looking for a possible retest of the 1.08310 pivot level as resistance. If there is a break and close above 1.08310, then there may be a possible reversal to the trend. However, if we do not get this, we will continue down to target the next pivot level at 1.07130.
Please do not forget to like, comment and follow, we would love to hear your thoughts!
Thank you for your support.
BluetonaFX
We are still in a bear trend on EURUSD. You can see this in the price action with lower highs, lower lows and support pivot breaks.
The first support pivot level of 1.09084 was broken after a triangle break, the second support pivot level of 1.08310 was broken with momentum after a retest of the first pivot level of 1.09084.
We are now looking for a possible retest of the 1.08310 pivot level as resistance. If there is a break and close above 1.08310, then there may be a possible reversal to the trend. However, if we do not get this, we will continue down to target the next pivot level at 1.07130.
Please do not forget to like, comment and follow, we would love to hear your thoughts!
Thank you for your support.
BluetonaFX
Note
Our Pivot levels worked very well on this setup.
We got the retest of the 1.08310 pivot resistance retest and we did not break and close above it, so there was a big selloff to the next pivot target of 1.07130 which is where we are currently at.
We now need watch and study the price action very closely to see if there is a support hold here or not.
BluetonaFX
JOIN OUR FREE TELEGRAM CHANNEL
t.me/bluetonaFX
t.me/bluetonaFX
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
JOIN OUR FREE TELEGRAM CHANNEL
t.me/bluetonaFX
t.me/bluetonaFX
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.