2015-07-30_01-04-33

Todays post is about a change of trend for the eurusd on the 1 hour time frame.

You may see that untill number six we were always given higher highs and higher lows.

But then after number six we were given a lower high and then a lower low.

It is now that our fundamental short bias is alligned with our technical bias so more bearish moves may be expected for this pair.

You may therefore expect more prolonged down moves and shorter bullish retracements.

For better results you may choose to only short this pair as long as lower lows and highs are being provided.

 

2015-07-30_01-17-40eurjpy

Now lets double check if we have a confluence or correlation of the other euro pairs to confirm our statement.

If other euro pairs are showing weakness one might to be more confident in pulling the trigger.

We can see clearly that number seven has been taken out and that a new low is in the process of being provided.

What to do now ??? Wait for a bullish retracement and go short.

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