EUR/USD FUTURE PROJECTION EXERCISE| SCENARIO BREAKDOWN

Hello friends,

I invite you to participate in the future projection exercise, based on technical analysis, and way the price behaves under such predicament, which can be a very useful tool for traders to see what the price action might be given the current market sentiment and one's own bias.

As I've already mentioned before, I am short biased, and therefore, there are bearish scenarios, presented only.

So, these are three more or less realistic scenarios for the future price movement.

1- there is a breakout and the price goes lower in a smooth way. Which is somewhat unlikely.

2-The second one, begins as the first one with the breakout, but then goes to retest the mirror level. A false breakout is there intentionally.

3-A scenario where the pair goes up to retest the high, establishing a double top, to then go for a much expected correction below the level.

The market will find it's own way of finding a temporary equilibrium, indeed, yet having possible scenarios is nice.

Thank you for reading, like and subscribe if you feel like it. Also, comment your thoughts, I really appreciate!

Have a nice day!

Commento:

Scenario 3 seems to be playing out!