After some indecision, last week a doji candle was formed in weekly major support level. We can now se on the daily chart some head and shoulders pattern indicating long for EU in the short term.
We are expecting it to reach the 61.8 fib retracement on the green line, and then a possible downside breakout.
This will probably stop at the -27% extension to then retest major levels, and continue to move to the downside.
This is a long term trade, which on it's way, will leave a lot of intraday opportunities.
THE OVERALL SENTIMENT IS SHORT FOR THE LONG TERM.
We are expecting it to reach the 61.8 fib retracement on the green line, and then a possible downside breakout.
This will probably stop at the -27% extension to then retest major levels, and continue to move to the downside.
This is a long term trade, which on it's way, will leave a lot of intraday opportunities.
THE OVERALL SENTIMENT IS SHORT FOR THE LONG TERM.
