EUR/USD technical analysis
- Bearish rejection as analysed.
- EUR/USD is very bearish.
- Possible retest of order block.
- W L5 has been reached.
- Bearish order block
- Breakout
- Retest
- Target
The price is in a downtrend. There is nothing bullish here. As shown in the previous analysis, the EUR/USD went exactly as expected. The Weekly target has been reached. As you can see in the picture the W L5 has already reached 1.1546 and the price now is trying to go for a retest of a bearish order block. If the market doesn’t break higher above the D H3, we should see another move down below the point 2, towards point 4. D L4 – 1482. Sell the rallies and keep the shorts running is the strategy to go with.
