EURUSD may bounce down temporarily from Resistance
EURUSD just hit its daily Resistance.
In H1 TF we have a sloping up the channel with bearish divergence on TRIX 5,8. If we break the channel down and retest the bearish channel, then we may make use of any potential bearish momentum and short the pair.
If the price action on H1/H2 develops in the future to show a bearish sign, we may enter with a couple of positions and take partial profits.
In this analysis, if we get a bearish signal, it will be temporary and we will be shorting for intraday or couple of days.
If we do not break the channel down and retest it as described then the bearish bias will be negated and we may look for bullish bias according to what PA will dictate.
In H1 TF we have a sloping up the channel with bearish divergence on TRIX 5,8. If we break the channel down and retest the bearish channel, then we may make use of any potential bearish momentum and short the pair.
If the price action on H1/H2 develops in the future to show a bearish sign, we may enter with a couple of positions and take partial profits.
In this analysis, if we get a bearish signal, it will be temporary and we will be shorting for intraday or couple of days.
If we do not break the channel down and retest it as described then the bearish bias will be negated and we may look for bullish bias according to what PA will dictate.