EURUSD - 28 June 2022

If price take out this low, we may say price is showing respect to the high as it tried to put in a new HH but failed, first level of respect (FLOR) in 4H found. We may then conclude that 4H is favoring short and demand has lost the control, insufficient bullish momentum to sustain the move (the ascending nature, and the way price put in new HH is the sign of insufficient bullish momentum).