EURUSD: Can The Down Trend Continue?

Hey SLFX Family!

We are now in a new trading month and it is important to have your monthly analysis done. When constructing monthly analysis here a few things to do and keep in mind:

The price is back at the previous structure. There are a few things to consider about this pair:
1. Price is in a downtrend
2. The monthly candle closed as a rejection candle. We may see some bullish momentum this month. The question is for how long.
3. Price is at a trend line which means the price is trading at the market structure. It's also testing trend structure-the previous lower high.

The Sell analysis:
If price can stay below the trend line and show bearish rejection I'll be trading back down to the previous lower low.

The buy analysis:
If the price breaks the trendline and retests it on the other side, I'll be looking for a potential buy order.

Until then, I remain neutral until price shows it's hand which we may see this week.

Follow me on Instagram:@slfx_trading