EURUSD 4Hour Analysis June 21st, 2020
EURUSD short Idea
After the bullish rally on the 4hour timeframe we saw a strong head & shoulder reversal pattern form and execute.
We were originally bearish on our higher timeframes and will remain bearish as we did not break to new highs on the daily.
From this level we simply want to see a retest of the 38.2% fib level around 1.12350 with some strong bearish setups to follow before we can enter short.
Look to target lower toward our major weekly support around 1.10450
After the bullish rally on the 4hour timeframe we saw a strong head & shoulder reversal pattern form and execute.
We were originally bearish on our higher timeframes and will remain bearish as we did not break to new highs on the daily.
From this level we simply want to see a retest of the 38.2% fib level around 1.12350 with some strong bearish setups to follow before we can enter short.
Look to target lower toward our major weekly support around 1.10450
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