Refer a friend

The #EURUSD price looks to be going into a new impulsive phase on the weekly time frame. Can this offer us short opportunities?

Watch the video to learn more…

EURUSD Weekly Chart

forex chart of the day EURUSD weekly

The price of EURUSD is in a strong downward trend and could be entering a new phase. Last week we looked at long opportunities on EURUSD as the price was in a retracement phase on the weekly downtrend. However, the price we were targeting was 1.1700 and the price did not make it there. Instead we have seen a bearish reaction from the previous swing lows instead showing a shallow weekly retracement. 

In this video we discuss that when the weekly chart is in a downward trend and an impulse phase the 4hr will form lower highs and lower lows. If the market is going to move into another impulsive phase we should see this 4hr time frame make new lows. 

The 4hr Chart

forex chart of the day EURUSD 4hr

As we can see the 4hr has now changed trend with the market forming a lower low. If the price is going into the impulse phase we should look for a lower high for a short trading opportunity. The previous lows of the recent range could be the area to watch. If the price forming bearish price action here look for short opportunities down to the major swing lows.

Haven’t seen our week ahead analysis yet? Follow this link to watch the previous update.

Enjoy low spreads and quick trade executions with a live account. Our highly committed customer support team will assist you from your quick account setup to any future concerns. Start trading with Blueberry Markets today.

Join us on Telegram
and get real-time
alerts on
Indices, Gold, Crypto
and Share CFDs

Join now for free
telegram cta
bbjam graphic

Sign up to
Blueberry Jam

Back up your trade positions with insights
and how-to-guides, straight to your
inbox every week

Thank you. You have successfully subscribed to Blueberry Jam!