On EURUSD we have an opportunity to short the market.
Price was rejected at the .618 retracement of the large impulse leg, and the .382 retracement of the recent smaller bearish impulse leg.
Along with the rejection at the fib confluence levels, we have rejection from the blue descending resistance line.
Price has also broken below a strong structure level at 1.11767
My initial target will be the recent lows, and my secondary target will be the 1.272 extension of the most recent bearish impulse leg.
Price was rejected at the .618 retracement of the large impulse leg, and the .382 retracement of the recent smaller bearish impulse leg.
Along with the rejection at the fib confluence levels, we have rejection from the blue descending resistance line.
Price has also broken below a strong structure level at 1.11767
My initial target will be the recent lows, and my secondary target will be the 1.272 extension of the most recent bearish impulse leg.
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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.
Related publications
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.