Euro / U.S. DollarShort
EURUSD SHORT SETUP
EURUSD is in a Down trends the Market structure is supported by the 4H trend line and the 24EMA which is providing strong resistance to EURUSD.
The 0.618 projection is of strong importance here as This could be our Profit level before EURUSD breaks out of the trend line.
A break of the trend will invalidate market structure and we may go on to print a new LH on EURUSD, but we would need to see a clear break of the structure with a few candle closes on the 4H above line and atleast 2 candle closes for daily Above line.
The 0.618 projection is of strong importance here as This could be our Profit level before EURUSD breaks out of the trend line.
A break of the trend will invalidate market structure and we may go on to print a new LH on EURUSD, but we would need to see a clear break of the structure with a few candle closes on the 4H above line and atleast 2 candle closes for daily Above line.
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