EURUSD: Bearish Scenario For Next Week (Trading Plan)
I am one of those traders who are waiting for a strong correctional movement on dollar.
during many weeks I am looking for reversal clues on EURUSD.
one of those is a lower high formation within the expanding channel that the price is currently following.
it is a strong indication of a weak bullish sentiment and unwillingness of buyers to even retest current highs.
for that reason an attempt of a bearish violation of the expanding channel will be highly probable next week.
pay attention to a blue zone, it is our current demand area and it must be violated first, to confirm the breakout of the channel.
then bearish rally will most likely follow.
p.s please, not that I don't predict a breakout. I give you a set of rules that will help you to trade the market if that breakout happens.