EURUSD (Weekly Outlook) - Time to come down (4)
Previously forecasted that price would fall and test support at 50% retracement which turns out accurate.
Price then rebound to test 0.764 (4hr TF) again and failed to penetrate the resistance.
Good chance to ride the downwave as expecting price to test the (white)trendline and (red)50% retracement zone.
Unable to tell if price will penetrate the 50% retracement or not. Holding a sell bias due to the lower peaks formed over the last few weeks.
If price falls through, expecting to hit around 1.166 area.
Upside risk: Price u-turns and test (blue) Median line.
Price then rebound to test 0.764 (4hr TF) again and failed to penetrate the resistance.
Good chance to ride the downwave as expecting price to test the (white)trendline and (red)50% retracement zone.
Unable to tell if price will penetrate the 50% retracement or not. Holding a sell bias due to the lower peaks formed over the last few weeks.
If price falls through, expecting to hit around 1.166 area.
Upside risk: Price u-turns and test (blue) Median line.
