EURUSD Completes the Bearish Shark Pattern

After the FOMC decision, the USD has been weakening and has now reach a critical turning point. Hoping that EURUSD can take the lead from AUDUSD and start to fall soon.

Pattern Identification
Bearish Shark pattern completed on the H4 chart at 1.0790/95.

Trade execution
Price went slightly above the PRZ and is currently supported by the PRZ. I would want to see the price goes back down below the PRZ to be more bearish on the pair.

Comentarios:

AUDUSD already falling, hope that EURUSD will follow suit.

Operación activa:

Just took the trade at 1.0776, with stops above PtX.

Now the PRZ must act as a resistance with the round figure 1.08 helping as a natural resistance too.

Operación activa:

Giving you guys an additional view on this pair to support the short.

H4 chart, indicators showing bearish divergence :
- MACD and the MACD Histogram
- RSI

Putting my stops at 1.0835

Operación activa:

Glad to see the price stayed below the PRZ last night.
Next critical step will be to break below the TL support

Operación cerrada: precio stop alcanzado:

Trade closed when the market opened with a gap up. 64pip loss (5 more than what I expected because of the gap)

This goes to show that although the indicators and signs were all aligned, there is still a possibility that the trade can fail.