Hello Guys,
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:
Sell: 1.2480
Stop Loss: 1.2530
Take Profit: 1.2330
Have a good trading day.

eurusd 4hr chart for February 16, 2018

Source: Dalmas

eurusd weekly chart for February 16, 2018

Source: Dalmas

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