EURUSD Showing Bearish Continuation
Quick Summary
EURUSD is currently rejecting moves toward upside liquidity and Bearish higher time frame momentum remains dominant
Trend continuation is favored over counter-trend setups and Price may decline toward the 1.16685 structure low
A sweep or break of this low could determine the next directional move
Full Analysis
EURUSD appears to be rejecting any attempts to move higher into nearby liquidity zones, suggesting that bearish higher time frame momentum is still firmly in control. Instead of seeking the sweep above recent highs, price action is showing intent to continue delivering lower in alignment with the prevailing trend.
Given the current market conditions, it is generally more favorable to follow the dominant flow rather than anticipate counter-trend retracements. As long as downside pressure remains consistent, continuation setups toward lower structure become the higher probability scenario.
The next key level of interest rests around 1.16685, which represents a significant structural low on the chart. This level may act as a liquidity target in the short term. Price could attempt to sweep this low to capture resting sell-side liquidity before initiating a corrective move to the upside.
Alternatively, a decisive break below this structure point could signal the formation of a new bearish leg on the higher time frame, reinforcing the continuation narrative and opening the door for further downside expansion.
source https://www.tradingview.com/chart/EURUSD/fJDAnHl1-EURUSD-Showing-Bearish-Continuation/
No comments:
Post a Comment