EURUSD Possible Long-Term Downside Objectives

24 giu 2021

Seen on the Monthly Timeframe, we see that we have created an M pattern in the past, where we retested a strong Bearish Orderblock before melting to the downside. Now we have created this SAME M Pattern, and currently testing a big Bearish Orderblock once again. The market tends to repeat itself. We also have lots of imbalances to fill, as well as possible mitigation of the Bullish Orderblock where we could potentially have a rejection up again, and Sell-side liquidity all the way down as a double bottom which the market loves to come to, take out all the liquidity and then possible reverse.

We may have a long-term bearish bias for the EU.

+ The USD will go to sh*t ...

Targets:
- imbalances
- Sell-Side Liquidity
- Order block

25 lug 2021

Nota

Entry was taken on Lower timeframe and first take profit was hit! Had a nice bearish reaction exactly where the analysis here on tradingview was posted.
If it breaks 1.16450, expect lower prices