This week has just ended, with back to back successful analysis in EURUSD (links below). For the upcoming week I expect price to sell of for a significant move. Looking at the 240min chart we see that price reached the sliding parallel of the rising channel which previously has acted three times as support pushing price to the upside. Now acting as resistance, most likely will push price to the down with a potential target the sliding parallel of the longer term upsloping median line, as shown in the chart. In the opening of the upcoming week's session start watching for a sell setup at the current level to sell EURUSD.
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Price reached our initial first target. We also see that it broke below the support level and most likely it will keep selling off till the next support sliding parallel. Wait for a correction to the line and watch for a sell setup
