After last week bearish engulfing candlestick and a clear double bar bear reversal pattern, we expected prices to trickle lower but that didn’t happen. As we can see now, prices are now moving lower in line with our forecast and over-valuation correction.
Already, there is a sell signal that has printed both in the weekly and 4HR charts and it’s my view that prices might continue moving lower in the coming sessions.
After all, prices are reversing right at the triple bottoms and therefore, this is my EURUSD trade plan:
Stop Loss: 1.2530
Take Profit: 1.2330
Have a good trading day.