EURUSD SHORT SETUP BEFORE FED NEWS

On EURUSD, a bearish trend can be observed, with the price retracing to the 50% Fibonacci level and then bouncing three times on a downtrend line, indicating clear short signals. Currently, the price is situated between a supply and a demand zone at the 1.0675 level, with volumes favoring sellers. Therefore, the objective is a short trade with a target of 1.055. It is worth noting that the short position will be confirmed by an initial break below the 1.0635 level.

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Happy trading to everyone.

Nicola, CEO of forex48 trading academy.