FACTORS OF CONFLUENCE
+ Massive Bearish Sentiment on the Weekly and Monthly charts, so with the dominant trend.
+ 38.2% Ret. + Yearly Pivot Resistance Convergence.
+ 50.0% Ret. + Monthly Pivot Resistance Convergence. (Typos on the chart, sorry.)
+ 61.8% Fibonacci Retracement (so lonely)
+ 50 + 200 EMA Converging Into the Value Area
+ Previous Support / Resistance Levels
+ Bearish Wedge Continuation Price Pattern.
+ Euro fundamentals. Lol.
+ We still lack candle shapes! Watch out for anything suspicious! Look for candle shapes around this area (high test, tweezer tops, etc.) to get short. Always utilize smart stop placement!
AREAS OF POTENTIAL SUPPORT
+ 1.381
+ 1.365
+ 1.356
As usual this is not guaranteed to occur and as traders we are expected to use our own analysis to further confirm our decisions. Happy trading!
+ Massive Bearish Sentiment on the Weekly and Monthly charts, so with the dominant trend.
+ 38.2% Ret. + Yearly Pivot Resistance Convergence.
+ 50.0% Ret. + Monthly Pivot Resistance Convergence. (Typos on the chart, sorry.)
+ 61.8% Fibonacci Retracement (so lonely)
+ 50 + 200 EMA Converging Into the Value Area
+ Previous Support / Resistance Levels
+ Bearish Wedge Continuation Price Pattern.
+ Euro fundamentals. Lol.
+ We still lack candle shapes! Watch out for anything suspicious! Look for candle shapes around this area (high test, tweezer tops, etc.) to get short. Always utilize smart stop placement!
AREAS OF POTENTIAL SUPPORT
+ 1.381
+ 1.365
+ 1.356
As usual this is not guaranteed to occur and as traders we are expected to use our own analysis to further confirm our decisions. Happy trading!