The EURUSD has been Bearish on a monthly basis since July 2014.
On a daily basis it has consistently broken bearish fractals in a steady move down.
The last leg started at (A) which was a double top on the daily chart, broke the daily Kijun Sen at (B) and a monthly support at (C), which is also a daily fractal level.
RSI is oversold, so I expect price to come back up to test the Monthly support turned resistance at (C).
This will be an opportunity to get short down to 1.04614 or lower
On a daily basis it has consistently broken bearish fractals in a steady move down.
The last leg started at (A) which was a double top on the daily chart, broke the daily Kijun Sen at (B) and a monthly support at (C), which is also a daily fractal level.
RSI is oversold, so I expect price to come back up to test the Monthly support turned resistance at (C).
This will be an opportunity to get short down to 1.04614 or lower
