EURUSD: Top down analysis

2019-12-18 18:12:33

1. Daily Chart
EURUSD faced a strong resistance near 61.8% Fib.Ret and the left structure zone. This reaction was printed on the chart as a big bearish PINBAR candle.

2. 240 min Chart
Price created a harmonic pattern combined with a Head & Shoulder and channel. On the right shoulder we can see another 240 min Pinbar candle.
https://www.tradingview.com/chart/EURUSD/OBoo0nIA-EURUSD-Alternate-BAT-Potential-Head-Shoulder-Channel/

For the time being price is loosing momentum but this doesn't mean that price is going to go down. This means only that the odds are really high for a move down.

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