Why I Think EURUSD Will Sell This Week...Technical Analysis

6 thg 8, 2024

Hey Rich Friends,

I hope all is well and you are having a profitable trading month so far. If you are on a trading journey, keep going until you get the results you want. This is only my technical analysis of EURUSD so please cross reference the indicators you have on your charts and check the news.

I think EU will continue to sell this week and this is why:
- The candles have already rejected the previous the supply zone and formed a lower high
- The larger EMA (purple) has crossed below the smaller EMA (blue) on 4H. This is a strong bearish confirmation for me
- The Stochastic has crossed below 80, the slow line (orange) is above the fast line (blue) and both lines are facing down. This is a strong bearish confirmation for me
- Structure has been broken on the downside with the current candle
- There is a gap that must be filled

I entered this trade at market execution with my SL at a previous high and my TPs at previous lows. Greak luck if you decide to take this idea and happy trading.

Peace and Profits,
Cha